12 Guam Code Ann. § 80107
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Terms Used In 12 Guam Code Ann. § 80107
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
its recommendation of specific exemptions and tax benefit, the Authority shall require the following as terms and conditions to such benefit and exemptions:
(1) Percentage of Investment. Limiting the tax benefits and exemptions to a percentage of the capital investment in Guam to be made by the Beneficiary;
(2) Local Shareholders. Requiring the Beneficiary to offer ten percent (10%) or more of its corporate equity to qualified residents of Guam on terms and conditions to be established by the Authority;
(3) Profit-sharing, etc. Requiring the Beneficiary to establish profit-sharing and stock ownership programs and other similar benefits for its employees;
(4) Training. Requiring the Beneficiary to: (i) establish in- house training programs or (ii) make contributions to an independent training or scholarship fund; and
(5) Local Purchaser. Requiring the Beneficiary to procure services or products supplied by resident business enterprises if the total cost of the same does not exceed one hundred ten percent (110%) of the cost of the same services or products available from any other vendor.
(1) Percentage of Investment. Limiting the tax benefits and exemptions to a percentage of the capital investment in Guam to be made by the Beneficiary;
(2) Local Shareholders. Requiring the Beneficiary to offer ten percent (10%) or more of its corporate equity to qualified residents of Guam on terms and conditions to be established by the Authority;
(3) Profit-sharing, etc. Requiring the Beneficiary to establish profit-sharing and stock ownership programs and other similar benefits for its employees;
(4) Training. Requiring the Beneficiary to: (i) establish in- house training programs or (ii) make contributions to an independent training or scholarship fund; and
(5) Local Purchaser. Requiring the Beneficiary to procure services or products supplied by resident business enterprises if the total cost of the same does not exceed one hundred ten percent (110%) of the cost of the same services or products available from any other vendor.