Treasury surpasses projections by $1.01 billion, driven by excise taxes and corporate income. #NewsismyBusiness
Lawmakers and members of the executive branch gathered at the Puerto Rico Convention Center today are said to be considering six different scenarios that would combine a hybrid structure of a sales and use tax and a general excise tax to shore up the government’s finances.
The Puerto Rico Senate passed legislation Thursday that exempts electric-powered vehicles from excise taxes as established by Senate Bill 884, which proposes the "Act for the Promotion of Vehicles Powered Mostly by Electricity.”