Treasury announces ‘Taxpayer Rehabilitation Program’
March 28, 2017
The Puerto Rico Treasury Department unveiled Monday a new initiative called the “Taxpayer Rehabilitation Program,” to encourage citizens to meet their tax responsibilities by granting payment plans.
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Treasury backs bill to increase online sales tax uptake
March 28, 2017
The Puerto Rico Treasury Department favored Monday a bill that would give it the tools to Sales and Use Tax on sales of taxable products in Puerto Rico sold online by businesses without physical presence on the island.
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Congress presses panel on status of PREPA restructuring
March 23, 2017
The Subcommittee on Indian, Insular and Alaska Native Affairs held an oversight hearing on the status of the Puerto Rico Electric Power Authority Restructuring Support Agreement, pressing for certain specifics the island’s top administrators could not provide.
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Congress to review PREPA debt restructuring deal
March 22, 2017
The Congressional Subcommittee on Indian, Insular and Alaska Native Affairs will hold a hearing today on the status of the Puerto Rico Electric Power Authority Restructuring Support Agreement, which is set to expire Mar. 31.
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P.R. Treasury collects $776.6M, $7.4M below projections
March 21, 2017
Puerto Rico Treasury Secretary Raúl Maldonado said Monday that net revenues recorded in the General Fund totaled $776.6 million in February.
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Deal with China-based co. to spur tire recycling project
March 20, 2017
The Department of Economic Development and Commerce announced Sunday the signing of an agreement of understanding between a local and a China-based company to develop recycling projects with an associated investment of $20 million.
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Treasury: Medicinal cannabis could net $14M in revenue
March 15, 2017
A framework for the legal sale of medical cannabis would generate a new source of revenue for Puerto Rico, to the tune of $14 million a year in sales tax revenue for the Treasury Department, an agency official told lawmakers Tuesday.
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Ample reactions after Oversight Board OKs fiscal plan
March 14, 2017
Representatives from a cross-section of the economy expressed their opinions Monday in the wake of the the Financial Oversight and Management Board for Puerto Rico approval of the fiscal plan the island’s government must follow to shore up liquidity and fund essential services.
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González promotes manufacturing incentives for P.R.
March 13, 2017
Puerto Rico’s Resident Commissioner in Washington, Jenniffer González-Colón, has filed legislation to extend indefinitely the application of Internal Revenue Code Section 199 in Puerto Rico, together with co-sponsors congressmen Carlos Curbelo (R-Florida 26), John Lewis (D-Georgia 5) and José Serrano (D-NY 15).
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Congress moves bill protecting investors in P.R.
March 10, 2017
U.S. Congressional Committees moved Thursday to close a decades-old loophole that critics say has caused significant financial losses for many Puerto Rican investors and retirees.
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Gov’t suspends $1.8B in special assignments, tax credits
March 8, 2017
The government of Puerto Rico released an administrative order Tuesday suspending some $1.8 billion in special assignments and tax credits, in an attempt to bridge budgetary gaps.
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Planning Board revises data for ’16; P.R. GDP drops 1.1%
March 6, 2017
The Puerto Rico Planning Board revised the island’s macroeconomic data for the end of fiscal 2016, reflecting a decrease in the Gross Domestic Product of 1.1 percent.
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Moody’s: Recent changes at PREPA raise uncertainty
February 28, 2017
The expiration of the Puerto Rico Electric Power Authority's contract with the firm leading the utility's restructuring efforts has increased uncertainty for bondholders, Moody’s Investors Service said in an analysis released Monday.
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EDB chief presents formula to promote local SMEs
February 23, 2017
The Economic Development Bank has a specific agenda it will follow to promote local small and mid-sized enterprises, including the creation of a training institute for entrepreneurs, agency President Luis Burdiel-Agudo said.
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Gov’t agencies, towns have until Mar. 31 to propose P3s
February 22, 2017
The Public-Private Partnership Authority issued a reminder Tuesday to central government agencies and Puerto Rico mayors of the Mar. 31 deadline to submit their proposals for potential Public Private Partnerships for evaluation.
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