12 GCA § 60102: Tax Exemptions.

(a) For the purpose of the taxes imposed upon income pursuant of the Guam Territorial Income Tax (as established and defined in 48 U.S.C. §1424(i) gross income of a FSC does not include any foreign trade income of such FSC.

(b) For the purpose of the taxes imposed upon income pursuant to the Guam Territorial Income Tax (as established and defined in 48 U.S.C. §1424(i) gross income of a FSC does not include any investment income or carrying charges of such FSC.

(c) For the purposes of the taxes imposed upon income pursuant to the Guam Territorial Income Tax (as established and defined in 48 U.S.C. §1424(i)), gross income of an FSC does not include any gross income derived from sources without Guam, determined under Section 862 of the Guam Territorial Income Tax (without regard to Section 865 of the Guam Territorial Income Tax).