A group of Puerto Rico Sales Tax Financing Corp. (known as COFINA in Spanish) stakeholders expressed concern about the government’s alleged release of inaccurate information about Sales and Use tax (SUT) collections.
During his second State of the Commonwealth address since taking office, Puerto Rico Gov. Ricardo announced a new tax model to phase out the Business to Business (B2B) and plans to cut the Sales and Use Tax on processed foods from 11.5 percent to 7 percent.
The Puerto Rico Institute of Statistics filed a motion at the San Juan Superior Court reiterating its request for declaratory judgment and injunction requested following the legal controversy that arose last summer, related to the composition of its Board, which has not yet been resolved.
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