The Puerto Rico Treasury Department confirmed that despite the need of more staff, close to 1.2 million income tax returns for individuals and corporations for taxable year 2020 have been processed, which represents 99% of the total returns filed. Of that total, about 1 million have received their refunds. “We have quickly disbursed close to […]
The Puerto Rico Treasury Department confirmed the seizure of 136 investment accounts in local and US brokerages held by delinquent taxpayers, amounting to more than $3 million. Agency Secretary Francisco Parés said the figure includes interest, surcharges, penalties, and garnishment costs. “This action coordinated by the agency’s Revenue Bureau stemmed from the failure of taxpayers […]
Net income that flowed into the Commonwealth’s General Fund for July and August reached $801.1 million and $675 million, respectively, for a total of about $1.5 billion, which exceeded collections projections by $176.9 million, Puerto Rico Treasury Secretary Francisco Parés said. Income tax collections for individuals and corporations exceeded the projection by $51.2 million or […]
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