P.R. gov’t to appeal ‘Wal-Mart tax’ invalidation
marzo 29, 2016
The Commonwealth will appeal the decision by U.S. District Judge José A. Fusté invalidating the transfer pricing tax applied to Wal-Mart, Gov. Alejandro García-Padilla said Monday, while blasting the judge for “taking away $100 million” from the people of Puerto Rico.
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Treasury: Feb. revenue at $767.5M, below estimates
marzo 17, 2016
Puerto Rico’s General Fund revenue collections totaled $767.5 million in February, reflecting a $58.2 million increase compared to February 2015, and $34.1 million above revised estimates.
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Compulsory electronic tax filing to save Treasury $5M
marzo 4, 2016
Filing an individual paper tax return becomes outdated this April as Puerto Rico switches to compulsory electronic filing in a move that is expected to save the Treasury Department up to $5 million in expenses, according to one of its top officials.
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Gov’t collects $26.4M from SUT on B2B in 4 months
febrero 8, 2016
Since going into effect last October, the Sales & Use Tax (SUT) on business-to-business (B2B) services has generated $26.4 million, the Puerto Rico Treasury Department reported.
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Artículo de opinión: ¿Responsabilidad o complicidad?
4 de febrero de 2016
El Departamento de Hacienda de Puerto Rico ha impuesto una serie de embargos a las empresas locales que no han remitido al gobierno el Impuesto sobre las Ventas y el Uso (IVU, por sus siglas en español) recaudado, ni las retenciones fiscales de sus empleados.
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Treasury may still collect from bankrupt businesses
diciembre 22, 2015
The offensive launched by the Puerto Rico Treasury Department in November to crack down on retailers that collected sales and use tax revenue, but failed to remit it to the agency has unleashed a string of bankruptcy filings by those businesses, which appear to have turned to the court for protection.
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Despite falling liquidity, gov’t to pay Christmas bonus
diciembre 21, 2015
With an estimated $700 million in the Government Development Bank’s coffers and a Treasury Department that reported $488.6 million in revenue collections in November, Gov. Alejandro García-Padilla announced Sunday public sector employees will receive their Christmas bonuses, as established by law.
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P.R. revenue collections $15.4M below estimates in Nov.
diciembre 15, 2015
Puerto Rico General Fund collections reached $488.6 million in November, falling $15.4 million short of estimates, but $36.7 million above what the government shored up during the same month in 2014, Treasury Secretary Juan Zaragoza said Monday.
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Microsoft in line to harmonize gov’t accounting systems
noviembre 19, 2015
Microsoft Corp. could be close to landing a contract to implement a unified accounting system across Puerto Rico government agencies, which currently are unable to share data with each other, making reporting a challenge.
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Gov’t collections up for 1st quarter, fall short in Sept.
octubre 16, 2015
General Fund net revenues for September totaled $758 million, representing an increase of $50.3 million, or 7.1 percent, year-over-year, but $17.4 million below estimates, Treasury Secretary Juan Zaragoza-Gómez said Thursday upon revealing the results.
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Treasury reports $1.3B in April revenue, is short $97M
mayo 12, 2015
The Puerto Rico Treasury Department revealed Monday that it shored up more than $1.3 billion in revenue for the government, but admitted it fell short by $97 million compared to estimates.
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Treasury collections at $709.3M in Feb. up $39.4M YOY
marzo 16, 2015
The Puerto Rico Treasury Department collected $709.3 million in February for the General Fund, a figure that was up $39.4 million, or 5.9 percent when compared to the same month last year, and $6.5 million, or 0.9 percent, below estimates.
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FDIC, Court deliver twin blows to ailing Doral Bank
febrero 26, 2015
Doral Bank was on the receiving end of major blows by the Federal Deposit Insurance Corp. and the Appellate Court Wednesday, just before it's time as a member of Puerto Rico’s financial community could come to an end.
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El gobernador habla sobre la reforma del Tesoro y presenta un proyecto de ley de reforma fiscal.
12 de febrero de 2015
El gobernador Alejandro García-Padilla anunció el miércoles la reestructuración del Departamento del Tesoro de Puerto Rico, y ofreció detalles sobre la reforma fiscal propuesta por la administración, expuesta en un proyecto de ley de 1,400 páginas presentado ante la Legislatura a última hora del día.
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Tax reform proposes new 16% goods and services levy
febrero 5, 2015
The tax overhaul currently being discussed at the highest levels of government, based on an analysis by KPMG Accounting Services, would shore up as much as $6 billion a year for the public coffers, based on the application of a new 16 percent goods and services tax, according to the report released Wednesday.
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