7 Aug 2013

American Samoa Congressman keen for tax reform in Territory

10:28 am on 7 August 2013

The American Samoa Congressman Faleomavaega Eni Hunkin is encouraging the territory's governor to reform the tax code, to encourage business development in the territory.

Faleomavaega said in a letter to Lolo Matalagi Moliga that business investors are hesitant to relocate their businesses to the territory because of the high corporate income tax rates and the uncertainty of the tax exempt process.

Faleomavaega says after 13 years, it is time to take steps to reform the tax laws in American Samoa to address the unique needs of the territory.

He says over the next 120 days the American Samoan government should evaluate its tax code, and propose reasonable solutions to change the code to more accurately reflect the needs of the territory.

Reducing the corporate tax rate has been a long standing recommendation of the American Samoa Chamber of Commerce.