Throughout Hato Rey’s Golden Mile, sotto voce, there is talk about an imminent amendment to Law 154 to increase taxes on foreign corporations. Under the present law, the excise tax on these corporations just declined from 4 percent in 2011, to 3.75 percent in 2012, and effective this month down further to 2.75 percent.
MIDA, the Marketing, Industry and Food Distribution Chamber, recently offered its members the results of a study on the situation of the industry. The study included a survey of 28 industry leaders who delved into the impact that demographic changes are having on the purchase and consumption of food.
Recently, and in view of the very serious challenges facing Puerto Rico, some analysts have called for a Compact among the various interest groups in society to agree on basic development issues. I fully agree with the need for what I would call a Compact for Puerto Rico (in Spanish, “Pacto por Puerto Rico").
A Dow Jones/Factiva content provider since 2014
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