Applicable Taxes on Leasing of Land by

Autonomous Agencies, Public Corporations, and Other Public Instrumentalities of the Government of Guam for Commercial Purposes. Taxes shall be applied to lands leased as stipulated in § 60114 of this Chapter.

(a)Notwithstanding § 26203(a) of Chapter 26, Article 2, Title 11, Guam Code Annotated, business privilege tax shall be paid on all income received as lease payments on commercial leases by autonomous agencies, public corporations, and other public instrumentalities of the government of Guam.

(b)Notwithstanding § 24401(a) of Chapter 24, Article 4, Title 11, Guam Code Annotated, real estate tax shall be paid on the leasehold and all improvements constructed on lands leased in commercial leases by autonomous agencies, public corporations, and other public instrumentalities of the government of Guam. COL 7/27/2023 CH. 60 LAND MANAGEMENT