Treasury Secretary Melba Acosta said Thursday that revenue collections so far this year — July 2012 through April 2013 — totaled $6.8 billion, or $321 million less than originally included in the general budget. The projection of a deficit through June 30, including certain transactions that will close before then, is $295 million, or 69 percent less than the original $965 million projected deficit, one of the components of the $2.2 billion structural deficit.
The head of the Puerto Rico Society of CPAs expressed concern Wednesday over the changes the current administration is proposing to the sales and use tax structure, specifically, the elimination of the business-to-business exemption.
Puerto Rico Government Development Bank President Javier Ferrer told lawmakers Tuesday that without the necessary measures, the institution he heads will not have the capacity to float petitions by public corporations by summer.
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