Several tax reform measures are included in a fiscal plan published recently by the Government of Puerto Rico intended to stabilize the territory's tax revenue and put an end to serial budget deficits.Read Full Story
The US Congressional Task Force, which was asked this year to look at policies to stimulate future economic growth in Puerto Rico, has provided a final report, which includes recommendations on tax changes for both individuals and companies.Read Full Story
On November 11, during remarks before the National Tax Association, Antonio Weiss, Counselor to the US Treasury Secretary, stated that expanding Puerto Rican eligibility for the earned income tax credit and the child tax credit should be part of the solution to rebuild the island's economy. Read Full Story
The Puerto Rico Oversight, Management, and Economic Stability Act, which is intended to assist a restructuring of Puerto Rico's debt, has been passed by the US Congress, without the inclusion of an eligibility for federal tax credits.Read Full Story
Puerto Rico will no longer adopt a value-added tax, after lawmakers in the Senate voted to overthrow an attempt by Puerto Rico's Governor, Alejandro Garcia Padilla, to veto previously passed repeal legislation.Read Full Story
The revised bipartisan legislative framework introduced into the US Congress to address the urgent need for a restructuring of Puerto Rico's debt does not include an eligibility for federal tax credits. Read Full Story
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