Memorandum

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July 01, 2005

To: All Employees
From: Director
Subject: Interest Rate Applicable to Overpayment and Underpayment.

The interest rates for purposes of Guam Territorial Income Tax Law for Calendar Quarter beginning July 01, 2005, are as follows.

• Six percent (6%) for non-corporate over and underpayments . Five percent (5%) for corporate overpayments
• Six percent (6%) for corporate underpayments
• Eight percent (8%) for large corporate underpayments
• Three and one-half percent (3.5%) for the portion of a corporate overpayment exceeding $10,000.00

ARTEMIO B. ILAGAN