Law 1 of January 31, 2011, also known as the Internal Revenue Code for a New Puerto Rico (herein the “New Code”), replaces the Internal Revenue Code of 1994, as amended. This New Code amends and adds new provisions to the previously known Section 1165, related to Puerto Rico Pensions Plans (now Section 1081.01). This article specifically refers to Chapter 8 — Trust and Successions, Subchapter A — Employees Trusts.
The Puerto Rico Treasury Department will begin a round of visits to San Juan metropolitan area businesses today to monitoring compliance of the Sales and Use Tax (known as IVU in Spanish).
Puerto Rico Treasury Department collections totaled $665 million in January, a 9 percent, or $67 million, drop from what the government reported during the same month last year, agency Secretary Melba Acosta said Tuesday.
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