Taxpayers have choice of filing under new code, or as per 1994 provisions
April 10, 2012
On January 31, 2011, Puerto Rico enacted a new Internal Revenue Code (the “2011 Code”), which reformed the island's tax system, containing significant changes for individual and corporate taxpayers.
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MasterCard launches ‘priceless’ Wednesdays at 15 malls
April 10, 2012
MasterCard customers will have a special reason to shop on Wednesdays, when the credit card company is teaming up with retailers at 15 Centros Isla malls to offer discounts on purchases.
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Multinational Insurance claims P.R. market footing
April 9, 2012
Five months after entering Puerto Rico's insurance market, Multinacional de Seguros is laying the groundwork to establish itself as a contender in the highly competitive $8 billion economic sector.
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UPR to host conference on energy technology, policy and design
April 9, 2012
The University of Puerto Rico’s Río Piedras campus will host the first interdisciplinary symposium on “Energy: Technology, Policy and Design,” to be held April 11-12, to expose Puerto Rico’s energy problem from an interdisciplinary point of view, school representatives announced.
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Michaels Arts & Crafts scouting for staff for 3 P.R. stores
April 5, 2012
A decade after exiting the local market, Michaels Arts and Crafts is looking to come back to Puerto Rico with at least three stores, News is my Business learned.
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BBVA structures $250M credit line for P.R. Health Services Administration
April 5, 2012
BBVA recently participated in the structuring and approval of a $250 million revolving credit facility for the Puerto Rico Health Services Administration, which runs the government’s “Mi Salud” health plan covering more than 1.5 million beneficiaries.
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WEF: P.R. 2nd ‘most connected’ nation in LatAm, Caribbean
April 4, 2012
In the most recent Global Information Technology Report released Wednesday, Puerto Rico ranked second among the region’s most connected jurisdictions, behind only Barbados. However, the island ranks 36th in the world in terms of connectivity, which still denotes the persistence of a significant digital divide.
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MIDA warns political parties of pressing need for food policy
April 4, 2012
Saying that the food industry should be treated as part of the island’s social and economic infrastructure, the head of the Marketing, Industry and Food Distribution Chamber, known as MIDA, warned Tuesday of the “imperative” need to establish a permanent food policy for Puerto Rico.
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Healthsouth rehab hospital in Manatí gets national recognition
April 4, 2012
Healthsouth Rehabilitation Hospital of Manatí has garnered high recognition from Uniform Data System for Medical Rehabilitation for the fourth consecutive year, ranking in the top ten percent of qualifying rehabilitation hospitals for 2011, the company announced.
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SPECIAL REPORT: Nearly 125K low-income consumers lose phone subsidy benefits
April 3, 2012
Close to 125,000 low-income consumers have been dropped from the list of beneficiaries receiving subsidies for their home or mobile telephone services through the Universal Service Fund after the Telecommunications Regulatory Board uncovered an alleged pattern of participants who were double- and triple-dipping into the pool of local and federal money, News is my Business learned.
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Doral Bank writes off $200M in overpaid P.R. taxes, stock soars 21%
April 3, 2012
Doral Bank has reached a deal with the Treasury Department regarding $200 million in overpaid taxes that the bank will now write off in its books as a prepaid expense.
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Toyota showcases eco-friendly practices in ‘Technological Rainforest Expo’
April 3, 2012
With a grand display of the auto industry’s most advanced eco-friendly technologies and as an educational initiative during “Earth Month,” Toyota de Puerto Rico inaugurated Monday its “Technological Rainforest Expo” at the Plaza las Américas mall in Hato Rey.
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McDonald’s Latin America operation nabs ‘Great Places to Work’ distinction
April 3, 2012
Global consulting company Great Places to Work recently named Arcos Dorados, McDonald’s largest franchisee and brand operator in Latin America, among the best employers in the region.
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Products Association urges gov’t, consumers to support local industries
April 2, 2012
Considering that 85 percent of all goods consumed in Puerto Rico are imported, it should come as no surprise that the trade group that champions for locally grown and produced goods recently issued a call to action by government agencies and consumers to support native industries.
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P.R. jobless rate drops to 15% in Feb., workforce stands at 40.3%
April 2, 2012
Labor Department statistics released over the weekend put Puerto Rico’s unemployment rate at 15 percent for the month of February, reflecting a 0.1 percentage point drop in comparison to the prior month’s level and a 1.2 percentage drop decrease from the 16.2 percent rate on record for February 2011.
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