Fueled by vehicle fleet sales, Puerto Rico’s auto industry reported a 1.5 percent growth in 2011 that is expected to continue this year, when growth projections are pegged at between 1 percent and 3 percent, the United Automobile Importers Group said Thursday.
In preparation for this year’s tax season, the Treasury Department announced Tuesday it has already opened six centers throughout the island to orient taxpayers on the terms of the Law to Strengthen Public Health and Safety and the recently granted tax credit for citizens who are 65 or older.
A proposal in President Barack Obama’s deficit reduction plan unveiled Monday could put a wrench in the joint aspirations of the local government and the private sector to get improved tax conditions for controlled foreign corporations doing business on the island.
A Dow Jones/Factiva content provider since 2014
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