Worried about the potentially harmful effects that eliminating the business-to-business sales tax exemption would have on their businesses, retail executives recently concluded that if the Treasury Department want to increase its revenues, it needs to “correct and streamline” the process of capturing the sales and use tax to collect from evaders.
High-ranking Puerto Rico government officials unveiled Wednesday a package of measures aimed at resolving the Commonwealth Retirement System’s critical fiscal situation, including raising the retirement age and increasing employee contributions.
Three weeks after announcing plans to submit legislation to spur job creation in Puerto Rico, Gov. Alejandro García-Padilla signed Sunday the “Jobs Now Act,” the tool his administration will rely on to create the 50,000 jobs he promised to promote during the first 18 months of his tenure.
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