Puerto Rico’s self-employed may request $500 incentive starting Mar. 30
March 27, 2020
Puerto Rico Treasury Secretary Francisco Parés announced that starting Monday and through May 1, individuals who are self-employed will be able to request the $500 economic incentive announced by the governor, through the agency’s Unified Internal Revenue System (SURI, in Spanish). “Following the Strategic Plan to reactivate the economy, announced by Gov. Wanda Vázquez, on […]
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Prepared foods temporarily exempt from Puerto Rico’s sales tax
March 20, 2020
Puerto Rico Gov. Wanda Vázquez announced that Treasury Secretary Francisco Parés passed an administrative order exempting prepared foods from the island’s sales tax, effective today through April 19, 2020. “This is an additional measure that’s taken in favor of all citizens in the face of the health emergency that we are facing due to COVID-19,” […]
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Treasury Dept. makes optional contribution option available for self-employed
January 24, 2020
Puerto Rico Treasury Secretary Francisco Parés-Alicea issued a call to self-employed individuals and services companies to review the “Optional Contribution” as an alternative when filing this year’s tax return. “This is one of the major changes approved in the 2018 Tax Reform and an alternative that could facilitate compliance with tax obligations in a simpler […]
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P.R. Treasury reports revenue increases in August, September
October 30, 2019
Preliminary net revenues to Puerto Rico’s General Fund in August and September totaled $773.6 million and $985.5 million, respectively, Treasury Secretary Francisco Parés-Alicea announced. This reflects a year-over-year revenue increase of $103.3 million in August and $152.5 million in September. “The first quarter ended with revenues that totaled $2.8 billion. Compared to the same period […]
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P.R. revenue collections reach $1.05B in July, Treasury Dept. says
September 18, 2019
Preliminary net revenues collected and deposited into Puerto Rico’s General Fund for the recently begun Fiscal 2020 totaled $1.05 billion, Treasury Secretary Francisco Parés said. “July 2019 revenues surpassed last year’s revenues by $305.5 million, a 41.2% increase,” he said, adding that July 2019 revenues were $159.9 million above projections. The corporate income tax category […]
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Treasury reports ‘record’ revenues of $11.3B for FY2019
August 7, 2019
Preliminary net revenues to the General Fund for the recently ended FY2019 totaled $11.3 billion, Puerto Rico Treasury Secretary Francisco Parés-Alicea announced, adding the figure is a “new record number for revenue collections.” On a year-over-year comparison, revenues were up by $2.06 billion, or 22%. In addition, revenues exceeded three projections prepared by the Financial […]
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Treasury meets with Private Sector Coalition to unveil priority projects
July 29, 2019
Puerto Rico Treasury Secretary Francisco Parés recently met with representatives of the Private Sector Coalition to present 10 priority projects and reaffirm his commitment to the agency and with taxpayers. During the meeting, he discussed critical projects, the actions taken since his appointment and Treasury’s strategic plan, which emphasizes the transformation of the organizational culture […]
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Treasury starts processes to reduce sales and use tax on prepared foods to 7%
July 19, 2019
The Puerto Rico Treasury Department has begun to implement the reduction of the Sales and Use Tax (IVU, for its initials in Spanish) on prepared foods from 11.5% to 7%, which will take effect in October. “We have already started conversations with the Puerto Rico Restaurants Association to delineate the parameters of the implementation and […]
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Treasury Dept. inaugurates 360 Service Center for small businesses in Guaynabo
May 29, 2019
Puerto Rico Treasury Secretary Raúl Maldonado inaugurated, along with Guaynabo Mayor Ángel Pérez, the town’s first 360 Service Center, specialized in assisting small and mid-sized businesses to complete transactions in a single place. “This collaborative agreement with the municipality of Guaynabo is part of Gov. Ricardo Rosselló’s commitment to provide all the tools to help […]
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Treasury reports $1.2B net revenue collections for General Fund in March
April 30, 2019
Net revenues to the General Fund totaled $1.2 billion in March 2019, a “new historic level for a month of March,” Puerto Rico Treasury Secretary Raúl Maldonado said. “This monthly revenue exceeded the Oct. 23, 2018 Certified Fiscal Plan revised projections by $259.1 million. This fiscal year, March has reflected the best performance compared to […]
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P.R. Treasury reports $717.9M in revenue to the General Fund in Jan.
April 16, 2019
The Puerto Rico Treasury Department released net revenue collections for January, which totaled $717.9 million. In a statement, Treasury Secretary Raúl Maldonado said when compared to January 2018, the current total shows a net increase of $133.3 million. “January 2019 revenues were $188.3 million above the June 29, 2018 Certified Fiscal Plan projections and $23.5 […]
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Gov’t sends out another $39.4M to employers that retained workers post-hurricanes
February 8, 2019
The government sent out another $39.4 million to 1,294 employers who requested Employee Retention Tax Credit program after the impact of Hurricanes Irma and María last year. Gov. Ricardo Rosselló said the new allocation pushes the total amount paid out to $414.4 million from June 2018 to 16,676 employers who retained 415,921 employees after the […]
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P.R. Treasury Dept. grants payment moratorium to furloughed federal employees
January 24, 2019
The Puerto Rico Treasury Department has granted a moratorium on payment plans to U.S. government employees affected by the partial shutdown that is now the longest in history. Treasury Secretary Teresita Fuentes said as a result of the partial shutdown in effect since Dec. 22, 2018, employees that have gone without pay are being given […]
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Treasury Dept. reports $793M in net revenue collections in Oct.
November 29, 2018
Revenues totaled $469 million in October 2017, “the most affected month, with the lowest revenue the whole year,” due to the effects of the passage of Hurricanes Irma and María.
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Treasury collects $626.5M in July, fueled by SUT revenue
August 17, 2015
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.
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