The Puerto Rico Treasury Department has pushed back the start of collections of Sales and Use Tax (known as IVU in Spanish) for merchandise coming through the island’s ports by a month, to Aug. 1, agency officials said Monday.
Thirty-two businesses operating in the upscale Palmas del Mar community in Humacao are facing a collective $373,000 in fines for failing to remit sales and use tax (known as IVU in Spanish) payments to the agency.
As part of the government’s strategies to increase tax evasion oversight, Puerto Rico Gov. Alejandro García-Padilla sent a bill to the Legislature that will allow the use of certified payment processors in all local businesses, as well as the exchange of information between municipalities and the Treasury Department.
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