Puerto Rico Treasury launches 1st IVU tax amnesty
May 13, 2013
Puerto Rico individual and corporate taxpayers who have a sales and use tax (known as IVU for its initials in Spanish) debt with the Treasury Department will be able to pay without penalty through a tax amnesty good through June 30. The agency expects to collect $8 million through the initiative, Treasury officials said Monday.
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Villamil: Eliminating ‘B2B’ tax exemption ‘bad idea’
May 10, 2013
The Puerto Rican government’s proposal to eliminate the business-to-business sales tax exemption is not a good idea and does not guarantee the $800 million in new revenue Gov. García-Padilla’s administration has predicted, because oversight and collections related to these transactions is a difficult task to achieve, Economist José J. Villamil said Thursday.
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Gov’t haul down $67M in Jan., sales tax revenue up 2.6%
February 27, 2013
Puerto Rico Treasury Department collections totaled $665 million in January, a 9 percent, or $67 million, drop from what the government reported during the same month last year, agency Secretary Melba Acosta said Tuesday.
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Treasury shores up $1.2B in April, reports 4% jump in May sales tax collections
June 5, 2012
Net revenue making its way to the Puerto Rico government’s General Fund exceeded $1.2 billion in April, with personal and corporate income tax collections representing 69 percent, or $830 million of the month’s total, agency Secretary Jesús Méndez said Monday.
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