About 25 percent more Puerto Rico taxpayers will be able to file the short form this year as the 2010 Tax Reform takes full effect, simplifying many reporting processes that previously required the more complicated long form, Treasury Deputy Secretary Blanca Álvarez-Ramírez told News is my Business.
Net General Fund revenue totaled $776 million in December, representing an increase of $210 million when compared to the same month in 2010. The hike was attributed to a surge in motor vehicle excise tax collections, which Treasury Secretary Jesús Méndez said reflected the highest year-over-year percentage growth.
If the results of the first quarter of the federal fiscal year are any indication, 2012 should be good for small and mid-sized business lending activity in Puerto Rico and the U.S. Virgin Islands, which is already picking up significantly in contrast to last year’s results.
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