The switch-over from a B2B IVU to a B2B IVA should not raise consumer prices nor costs to business, according to Economist Vicente Feliciano, president of Advantage Business Consulting.
On April 1, Puerto Rico will adopt a Value Added Tax (VAT) system and the island's advertising industry will fall in line with other business sectors in paying a tax for services from which it was temporarily exempted.
Several prominent Puerto Rican economists urged lawmakers on Monday to exempt educational institutions from the proposed 16 percent value-added tax being discussed as part of a sweeping tax reform for the island.
At the Puerto Rico Information Technology Cluster we believe that the potential success of the implementation of a value added tax system and how fair it could be for Puerto Ricans will depend largely on the strength of information systems that are launched to support it.
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.
Puerto Rico Gov. Alejandro García-Padilla offered a televised speech Tuesday in which he outlined his proposal for overhauling the island’s current tax system to what he described as a “simpler and fair one.”
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