However. a U.S. corporation which carries on a business in Guam will remain subject to the regular corporate tax in Guam. Mr. Speaker. this bill is also necessary to eliminate the dual filing and tax requirements in both Guam and the United States for. U.S. citizens who are residents of Guam. whose citizenship status does not derive from birth or naturalization in Guam. Under the present system. these individuals must file tax returns with both jurisdictions. even though the foreign tax credit usually operates to eliminate the tax liability of one of the jurisdictions. This requirement has proved. to be burdensome both to the taxpayers and the two governments.
Keywords matched
naturalization