On April 1, Puerto Rico will adopt a Value Added Tax (VAT) system and the island's advertising industry will fall in line with other business sectors in paying a tax for services from which it ...
Since going into effect last October, the Sales & Use Tax (SUT) on business-to-business (B2B) services has generated $26.4 million, the Puerto Rico Treasury Department reported.
The Puerto Rico Government Development Bank (GDB) warned Gov. Alejandro García-Padilla that without an approved tax reform and a budget adjusted to public spending and the island’s fiscal reality, the government could run out of ...