The improved SURI procedure is for excise taxes on gas and diesel oils. #NewsIsMyBusiness
Following the success achieved with auto accident insurance firm Point Guard, the founding trio of entrepreneurs are now launching Puerto Rico Home Insurance, offering the only local home insurance policy that reimburses consumers 20 percent of their annual premium if they have no claims during the coverage year.
On the heels of its legal victory last week, Doral Financial Corp.’s Economic Advisor Robert Shapiro on Monday urged the government of Puerto Rico to honor the tax agreement upheld by a local court, “for the sake of its credibility.”
The saga between Doral Financial Corp. and the Puerto Rico Treasury Department that began earlier this summer took another turn recently, when a local court ordered the parties to sit down and negotiate an agreement that would grant the bank a $229 million tax refund.
Doral Financial Corp. filed a lawsuit at the San Juan Superior Court and a Writ for Certification in the Puerto Rico Supreme Court, alleging that the government illegally nullified its agreement to refund the bank nearly $230 million in tax overpayments.
Economist and former Clinton administration official Robert Shapiro said Tuesday the Treasury Department’s decision to nullify an agreement that would have granted Doral Financial Corp. a $230 million tax refund has “serious implications” on the potential to attract future investments, as well as on the island’s economic growth.
Doral Financial Corp. has hired a couple of Washington, D.C-based firms to back up its fight against the Puerto Rico government’s decision to rescind on an agreement signed in 2012 granting the bank a $230 million tax refund.
Following a “deep analysis,” the Puerto Rico Treasury Department denied Doral Financial Corp.’s request for a refund of $230 million it claims to have overpaid in taxes, voiding an agreement struck in March 2012.
Financially troubled Doral Financial Corp. fired off a letter to the Puerto Rico Treasury Department late last week asking the agency to comply with the terms of a closing agreement reached in 2012 obligating the government to refund the bank for tax over-payments estimated at about $232 million.
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