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Treasury meets with Private Sector Coalition to unveil priority projects

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 and improvement of processes; the implementation of the third phase of the Unified Internal Revenue System (SURI, for its initials in Spanish) and the implementation of the New Tax Model.

“The private sector should feel calm because in the Department there is continuity and we continue with the goal of becoming a worldwide tax model,” the official told representatives of different organizations.

The work plan also includes the digitization of accounting systems, updating of the financial statements, the payment of tax refunds, a classification and compensation plan for employees, technical training of personnel and improvements to the physical plant.

Parés stressed the importance of implementing the SURI tool properly and empowering citizens with it. Presently, SURI allows merchants to carry out several transactions in addition to filing returns, declarations and payments, among other procedures.

A third phase should go into effect during the next tax cycle, which, among other things, will increase compliance and refine the strategies for control and risk mitigation, he said. Representatives of the Certified Public Accountants Association, Builders Association, United Retailers Association, the Shippers Association, Real Estate Landlords, and the Puerto Rico Restaurants Association, among others, were present at the meeting.

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This story was written by our staff based on a press release.

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