TAX refunds will still be sent out next week.
On top of the $10 million that is being mailed this week, Department of Revenue and Taxation and Department of Administration officials confirmed $4 million in tax refund checks are going to be mailed starting next Monday.
“Out of the bond money, we only got $258 million but that has been a success in paying the people of Guam what is owed to them,” DRT Director John Camacho said.
“Hopefully, we’ll be able to pay them off before the end of the year,” he added, referring to all past-due tax refunds.
At the same time, DOA is planning on paying out refunds on a weekly basis.
DOA Director Benita Manglona confirms they will continue to process refunds; but as far as the amount, she noted “it depends on cash availability.”
Manglona said they are releasing $14 million but as far as anything additional, she said they have other obligations that also need to be paid.
Manglona said they will review the cash flow on collections this month to see where they are.
“We will go from there, but we are prioritizing paying tax refunds,” she stressed.