Puerto Rico’s School of Certified Public Accountants expressed its support of House Bill 1544, which proposes a new Tax Code for the island, saying it introduces “a number of significant changes in the rate of income tax for both individuals and corporations.”
Puerto Rico’s Resident Commissioner in Washington, Pedro Pierluisi, said Tuesday that U.S. House Speaker Paul Ryan could name the lawmaker who will steer the work of the Puerto Rico Congressional Task Force this week.
A yet undefined increase on water rates for residential and commercial customers could come as early as mid-July, if lawmakers are unable to move a bill authorizing financing mechanisms for the cash-strapped Puerto Rico Aqueduct and Sewer Authority, agency officials said Wednesday.
Puerto Rico House of Representatives Speaker Jaime R. Perello-Borrás, met with Small Business Administration Chief Maria Contreras-Sweet, to present the profile of the island’s small and mid-sized businesses and find better alternatives for the development and retention of this sector that is key to strengthening the island’s economy.
The Office of the Commissioner of Financial Institutions, Puerto Rico’s banking watchdog, was left out of the talks leading to the agreement through which the Treasury Department approved a $229 million tax refund to Doral Financial Corp., the regulator said Tuesday during a House public hearing.
Last Thursday, the Puerto Rico senate approved a substitute bill that consolidated several of the measures that had made the leaders of the telecommunications industry unanimously oppose any possible changes to Law 213, known as the Telecommunications Law.
The Puerto Rico Senate approved late Monday the Teacher's Pension System reform bill submitted by Gov. Alejandro García-Padilla last week. The Senate's approval follows Saturday night's passage by the House of Representatives. The bill now goes to the governor's desk to be signed into law.
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