The Puerto Rico Restaurants Association, known as ASORE, sponsored a seminar Tuesday on the recently approved Law 40, which has brought on a new set of taxes, and its impact on the industry.
Preliminary analysis conducted by economic analysis firm Heidie Calero Consulting Group suggests the impact of new taxes implemented in Puerto Rico this month could lead to a reduction of 3.3 percent real growth during the next two fiscal years with a loss of up to 30,000 jobs.
The Made in Puerto Rico Educational Institute of the Puerto Rico Products Association will offer a seminar titled “Impact of the changes to Puerto Rico’s tax system on your business,” which aims to provide guidance on the recently enacted changes to the island’s tax code and their impact on local companies.
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