General Fund revenue exceeds projections by $304.3M in fiscal year
June 24, 2025
Individual income, sales taxes and rum taxes drive gains over government estimates. #NewsismyBusiness
chat_bubble0 Comment
visibility933 Views
Op-Ed: Puerto Rico sales tax nexus — What businesses need to know
October 23, 2023
In Puerto Rico, merchants liable for 11.5% Sales and Use Tax must prove substantial nexus, matching physical, digital or other business criteria. #NewsismyBusiness
chat_bubble0 Comment
visibility3662 Views
Puerto Rico gov’t extends tax-free period for prepared foods
October 6, 2022
The exemption excludes alcoholic drinks.
chat_bubble0 Comment
visibility2401 Views
Treasury Dept. delays deadline to file, pay Sales and Use Tax returns
September 20, 2022
The new filing deadline is Sept. 27.
chat_bubble0 Comment
visibility2090 Views
Senate approves creation of sales tax-free zones in San Juan
May 7, 2019
The Puerto Rico Senate approved Senate Bill 1263 that would establish the “Sales and Use tax-free zones in the capital city of San Juan,” authored by Sen. Miguel Romero. The measure seeks to authorize the municipality to designate areas where, for a minimum initial term of three years to a maximum initial term of five […]
chat_bubble1 Comment
visibility1672 Views
Treasury collections fall $45.4M Y-O-Y in December
February 2, 2017
The Puerto Rico Treasury Department released Wednesday revenue collection numbers for December 2016 totaling $799.3 million, which represents a year-over-year decrease of $45.4 million.
chat_bubble0 Comment
visibility1672 Views
Treasury collections up 11.7% in October, at $700.1M
November 18, 2016
General Fund net revenues totaled $700.1 million in October, exceeding October 2015 revenues by $73.4 million, or 11.7 percent, and beating estimates by $74.5 million, or 11.9 percent.
chat_bubble0 Comment
visibility1381 Views
Treasury may still collect from bankrupt businesses
December 22, 2015
The offensive launched by the Puerto Rico Treasury Department in November to crack down on retailers that collected sales and use tax revenue, but failed to remit it to the agency has unleashed a string of bankruptcy filings by those businesses, which appear to have turned to the court for protection.
chat_bubble0 Comment
visibility3056 Views
Gov’t mulling at least 6 hybrid tax structure alternatives
May 14, 2015
Lawmakers and members of the executive branch gathered at the Puerto Rico Convention Center today are said to be considering six different scenarios that would combine a hybrid structure of a sales and use tax and a general excise tax to shore up the government’s finances.
chat_bubble0 Comment
visibility2975 Views
Gov. talks Treasury overhaul, submits tax reform bill
February 12, 2015
Gov. Alejandro García-Padilla announced Wednesday the restructuring of the Puerto Rico Treasury Department, as well as offered details of the administration’s proposed tax reform expounded in a 1,400-page bill submitted at the Legislature late in the day.
chat_bubble0 Comment
visibility2709 Views
Flamers, Bora Bora busted for not paying $1.2M in IVU
February 19, 2014
Two executives who own the Bora Bora and Flamers retail establishments are facing 36 counts of tax evasion and illegal appropriation of public funds for failing to remit more than $1.2 million in sales and use tax money collected between 2009 and 2012, according to the findings of a joint investigation by the Puerto Rico Justice and Treasury Departments.
chat_bubble0 Comment
visibility4412 Views
Loading stock data...
Brought to you by
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA