Last month's Sales and Use Tax revenue, which includes transactions made in August, totaled $124.2 million, the highest level for a month of September since the SUT was implemented in November 2006, the Treasury Department said Wednesday.
The Puerto Rico Treasury Department has spent the last seven months working with a team of local and international experts in tax, fiscal and economic matters to propose an overhaul to the island’s Internal Revenue Code that ultimately should eliminate the “uncertainty” associated with elements of the decades-old statute, agency Chief Melba Acosta told members of the media Thursday.
Despite word that court-ordered talks between the government and Doral Financial Corp. had broken down late Friday, representatives from both parties confirmed negotiations are still on the fate of a $229 million tax refund the bank is claiming from the government.
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