Private sector backs Rosselló’s call urging Congress to insert PR in U.S. tax reform
November 28, 2017
Representatives from Puerto Rico’s private sector agreed Monday to back Gov. Ricardo Rosselló’s urgent call to Congress to treat the island as a U.S. — not foreign — jurisdiction in the federal tax reform currently being discussed.
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PRMA warns about possible ‘catastrophic’ effects of federal tax reform
November 14, 2017
The draft bill of the U.S. tax reform being considered in Congress has the potential to “catastrophically impact” the island’s economy, jeopardizing more than 70,000 well- paid jobs and more than 35 percent of the Commonwealth’s budget, Puerto Rico Manufacturers Association President Rodrigo Masses warned Monday.
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Frente por PR continues to lobby DC lawmakers
September 13, 2017
The Frente por Puerto Rico’s subcommittee on tax reform on Tuesday visited 11 U.S. House and Senate offices asking for Puerto Rico’s inclusion in the federal tax reform.
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Rosselló presents $9.5B budget to PR Legislature
June 1, 2017
Gov. Ricardo Rosselló presented Wednesday a budget of $9.5 billion to Puerto Rico’s Legislative Assembly, which guarantees essential services and pension payments, and which also makes contributory justice for the citizens of the island, he said.
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CNE outlines 7 strategies to spur P.R.’s economic dev’t
March 6, 2015
On the heels of testimony presented before the Senate the prior day, the Center for a New Economy on Thursday offered seven strategies to jumpstart Puerto Rico’s economy, that sidestep the government’s proposed tax reform — for now.
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CNE advises shelving tax reform until economy improves
March 5, 2015
Saying that it "is a serious attempt to carry out a comprehensive change of the tax system,” the Center for a New Economy suggested during public hearings Wednesday that the reform should be put off until Puerto Rico’s adverse fiscal conditions improve.
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Op-Ed: Tech systems will be key to launching tax reform
February 20, 2015
At the Puerto Rico Information Technology Cluster we believe that the potential success of the implementation of a value added tax system and how fair it could be for Puerto Ricans will depend largely on the strength of information systems that are launched to support it.
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House Speaker raises red flags on tax reform issues
February 19, 2015
House Speaker Jaime Perelló told Treasury Department officials during a hearing Wednesday that they need to “go back to the table” on certain aspects of the proposed tax reform, including the frequency with which consumers will receive rebates to mitigate the impact of the new 16 percent value-added tax structure.
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Op-Ed: ‘Mr. Governor, your strategy hurts’
February 13, 2015
Your speech hurts. Your government strategy hurts. Your tax reform hurts.
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Tax reform proposes new 16% goods and services levy
February 5, 2015
The tax overhaul currently being discussed at the highest levels of government, based on an analysis by KPMG Accounting Services, would shore up as much as $6 billion a year for the public coffers, based on the application of a new 16 percent goods and services tax, according to the report released Wednesday.
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Court orders Treasury to release KPMG tax reform report
February 4, 2015
Saying the Commonwealth failed to justify its reasons for not doing so, the San Juan Superior Court on Tuesday ordered the Puerto Rico Treasury Department to make public the report produced by KPMG Accounting Services that is being used to shape the upcoming tax reform.
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Nonprofit proposes new work tax credit for families
December 12, 2014
Aiming to encourage work in the formal economy while neutralizing regressive consumption taxes, the Center for a New Economy recently commissioned the Urban Institute in Washington D.C. to conduct a study that proposes a new work credit focused on working families with children making between $7,500 and $25,000.
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Taxpayers have choice of filing under new code, or as per 1994 provisions
April 10, 2012
On January 31, 2011, Puerto Rico enacted a new Internal Revenue Code (the “2011 Code”), which reformed the island's tax system, containing significant changes for individual and corporate taxpayers.
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