The Puerto Rico Treasury Department favored Monday a bill that would give it the tools to Sales and Use Tax on sales of taxable products in Puerto Rico sold online by businesses without physical presence on the island.
Puerto Rico Treasury Secretary Raúl Maldonado said Monday that net revenues recorded in the General Fund totaled $776.6 million in February.
A framework for the legal sale of medical cannabis would generate a new source of revenue for Puerto Rico, to the tune of $14 million a year in sales tax revenue for the Treasury Department, an agency official told lawmakers Tuesday.
Governor-elect Ricardo Rosselló announced Thursday his nominees to head the Treasury, Agriculture, Natural Resources and Environmental Resources (DNER) departments, as well as the executive director of the Fiscal Agency and Financial Advisory Authority, or AAFAF.
General Fund net revenues totaled $533.9 million in November, up by $45.3 million, or 9.3 percent, compared to November 2015, and by $43.8 million, or 8.9 percent, compared to estimates.
General Fund net revenues totaled $700.1 million in October, exceeding October 2015 revenues by $73.4 million, or 11.7 percent, and beating estimates by $74.5 million, or 11.9 percent.
With a little more than two months left to this administration’s four-year term, Treasury Secretary Juan Zaragoza said there are projects he would have liked to have seen through, including a reclassification of agency employees to improve their salaries.
The government of Puerto Rico is counting on the Financial Oversight and Management Board for Puerto Rico to fight for the permanence of Law 154, passed in October 2010 as an amendment to Puerto Rico’s Internal Revenue Code that places an excise tax on sales generated by local subsidiaries to their international parent companies.
Treasury Secretary Juan Zaragoza will ask the Financial Oversight and Management Board for Puerto Rico to place the agency he heads under receivership, to prevent anyone — including himself — from signing off on significant material transactions that could affect the government’s coffers.
General Fund net revenues in August totaled $550 million, $10.3 million, or 1.9 percent, above estimates, Treasury Secretary Juan Zaragoza-Gómez said Thursday.
The Puerto Rico Treasury Department said Monday General Fund net revenue collections for July, the first month of Fiscal 2017, totaled $665.1 million, a 6.2 percent, or $38.6 million, increase compared to July 2015, and $7.4 million above estimates.
The Puerto Rico Treasury Department collected some $9.1 billion in revenue for the General Fund during Fiscal 2016, exceeding Fiscal 2015 numbers by $214.4 million or 2.4 percent, agency Secretary Juan Zaragoza-Gómez said.
Puerto Rico Hotel and Tourism Association Chairman Miguel Vega expressed surprise Wednesday by the statements made by the Treasury Secretary questioning how long the trade group’s case against the agency on the validity of the regulation to authorize video lottery in Puerto Rico has been in the court.
The Treasury Department confirmed Monday net revenues recorded by the General Fund in April 2016 totaled $1.28 billion, $76.2 million above revised estimates, and $47.7 million below net revenues in April 2015.
Treasury Secretary Juan Zaragoza-Gómez confirmed Wednesday that net revenues recorded by the General Fund in March 2016 totaled $929.7 million, a $91.1 million increase compared to March 2015 net revenues, and $5.3 million below revised estimates.
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