Gov’t collects $26.4M from SUT on B2B in 4 months
February 8, 2016
Since going into effect last October, the Sales & Use Tax (SUT) on business-to-business (B2B) services has generated $26.4 million, the Puerto Rico Treasury Department reported.
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Op-Ed: Responsibility or complicity?
February 4, 2016
The Puerto Rico Treasury Department has launched a series of embargoes on local businesses that have not been remitting collected Sales and Use Tax (“IVU”, for its Spanish acronym) to the government, nor their employees’ tax retentions.
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Treasury may still collect from bankrupt businesses
December 22, 2015
The offensive launched by the Puerto Rico Treasury Department in November to crack down on retailers that collected sales and use tax revenue, but failed to remit it to the agency has unleashed a string of bankruptcy filings by those businesses, which appear to have turned to the court for protection.
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