No taxes on qualified captive insurers. Each captive insurance company to which is issued a Special Qualifying Certificate pursuant to the provisions of Chapter 58, Title 12, Guam Code Annotated, shall pay no taxes to the government of Guam on its premium or other insurance income except ad valorem taxes on real and personal property used in the production of income, and to the extent that it is first required to pay its Guam income tax liability thereon before the same is rebated in full, pursuant to its Special Qualifying Certificate.

COL120106
22 Guam Code Ann. BUSINESS REGULATIONS
CH. 23 CAPTIVE INSURANCE COMPANIES

SOURCE: GC § 43713; added by P.L. 17-85:1. Amended by P.L. 23-109:4. Amended by P.L. 27-54:9.