Puerto Rico Treasury going after fraudulent taxpayers
March 14, 2013
The Puerto Rico Treasury Department is embarking on a pursuit of taxpayers who defrauded the government’s coffers either by under-reporting on their income taxes or failing to file altogether, agency Secretary Melba Acosta said Thursday.
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Governor: Private sector has already pledged 16K jobs
March 1, 2013
Gov. Alejandro García-Padilla detailed Thursday the progress of his administration’s strategies to revive the island’s economy, saying among other things that the private sector has already pledged to create 15,896 of the 50,000 he vowed to lock down in the first 18 months of his tenure.
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Gov’t proposes benefit cuts to avoid pension system collapse
February 28, 2013
High-ranking Puerto Rico government officials unveiled Wednesday a package of measures aimed at resolving the Commonwealth Retirement System’s critical fiscal situation, including raising the retirement age and increasing employee contributions.
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Gov’t haul down $67M in Jan., sales tax revenue up 2.6%
February 27, 2013
Puerto Rico Treasury Department collections totaled $665 million in January, a 9 percent, or $67 million, drop from what the government reported during the same month last year, agency Secretary Melba Acosta said Tuesday.
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SBA announces new Puerto Rico, USVI district director
February 26, 2013
U.S. Small Business Acting Atlantic Regional Administrator Bernard J. Paprocki announced Tuesday the appointment of Yvette Collazo as the new District Director for the SBA’s Puerto Rico and Virgin Islands district office.
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Transition report: Gov’t used ARRA funds to cover gaps
February 18, 2013
Puerto Rico received $7 billion in American Recovery and Reinvestment Act funds in 2009, but failed to create and retain jobs and renovate infrastructure as they were supposed to because hundreds of millions of dollars were used to cover the operational deficiencies of a handful of government agencies.
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GDB’s Ferrer: ‘Credit cut is something nobody wants’
February 15, 2013
Government Development Bank President Javier Ferrer said the García-Padilla administration is “analyzing all types of measures” to address Puerto Rico’s critical fiscal problems fronted by the drained public retirement systems that are being closely watched by stateside credit agencies.
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CNE: External regulatory board needed to run PREPA
February 13, 2013
The Puerto Rico Electric Power Authority needs to undergo profound changes to improve its fiscal situation and consumer services, something that could happen under the supervision of an external, independent regulatory board, members of the Center for a New Economy think tank said Tuesday.
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Gov’t creates task force to boost commercial ties with DR
February 12, 2013
Looking to boost exchanges in key areas such as agriculture, manufacturing and energy, and reestablish direct trade routes between Puerto Rico and the Dominican Republic, the Department of Economic Development and Commerce has created a task force responsible for promoting commercial ties between the islands.
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Governor signs ‘Jobs Now Act’ to create 50K jobs
February 11, 2013
Three weeks after announcing plans to submit legislation to spur job creation in Puerto Rico, Gov. Alejandro García-Padilla signed Sunday the “Jobs Now Act,” the tool his administration will rely on to create the 50,000 jobs he promised to promote during the first 18 months of his tenure.
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Planning Board: Land Use Plan ready by Jan. ’14
February 4, 2013
Puerto Rico Planning Board President-designate Luis García-Pelatti has made it his mission to spend the next year polishing and updating the Land Use Plan, first proposed nearly a decade ago.
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CRIM seeking $9M in damages from tech provider
January 30, 2013
The Municipal Revenue Collections Center is suing New York-based Infor Inc. for $9 million in damages related to the provider’s alleged inability to maintain software that the Puerto Rico government agency purchased in 2006.
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AGP files job creation bill; Private sector already pledges 10K slots
January 17, 2013
Gov. Alejandro García-Padilla filed the “Jobs Now Act” bill Wednesday outlining his strategy to create 50,000 jobs in 18 months and the incentives companies will get in exchange for making opportunities available for out-of-work Puerto Rico residents.
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AGP economic team patching things up with pharmas
January 10, 2013
Gov. Alejandro García-Padilla’s economic team is working on patching things up with pharmaceutical companies doing business in Puerto Rico, which they said Wednesday have “lost trust” in the island’s government.
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‘Operación Empleo’ slated for next week
January 8, 2013
“Operación Empleo,” the new administration's first large-scale initiative through the Department of Economic Development and Commerce to offer workshops aimed at investors and private sector companies, will take place Jan. 16, government officials announced.
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