This week, National Association of Realtors President Chris Polychron and Puerto Rico Association of Realtors President Edgar Morales sent a letter to the island’s House of Representatives to show support for Bill PC2566, which would exclude real estate brokerage services from the commonwealth's Sales and Use Tax and the Value Added Tax.
The Puerto Rico Treasury Department announced Friday that General Fund net revenues totaled $626.5 million in July 2015 — the first month of Fiscal 2016 — representing a $2.3 million increase when compared to July 2014.
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.
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