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The Puerto Rico Department of Labor and Human Resources (PRDLHR) (Spanish: Departamento del Trabajo y Recursos Humanos de Puerto Rico) is an executive department of the government of Puerto Rico. The DLHR is responsible for setting and implementing public policy in the areas of labor relations, occupational safety, unemployment insurance ...
The economy of Puerto Rico is classified as a high income economy by the World Bank and as the most competitive economy in Latin America by the World Economic Forum. [14] [15] The main drivers of Puerto Rico's economy are manufacturing, which primarily includes pharmaceuticals, textiles, petrochemicals, and electronics; followed by the service industry, notably finance, insurance, real estate ...
The government of the Commonwealth of Puerto Rico is a republican democracy established by the Constitution of Puerto Rico in 1952. Under a system of separation of powers, the government is divided among three branches: the executive, the legislative, and the judicial. As a territory of the United States, the government of Puerto Rico is under ...
Puerto Rico. Puerto Rico[i] (Spanish for 'rich port'; abbreviated PR), [21] officially the Commonwealth of Puerto Rico, [b][j] is a self-governing Caribbean archipelago and island organized as an unincorporated territory of the United States under the designation of commonwealth.
According to Virginia Sanchez Korrol from the Center for Puerto Rican Studies, Operation Bootstrap was based on 3 essential elements: “1) industrialization by invitation: the inducement of American corporations to relocate in Puerto Rico in exchange for lucrative tax benefits; (2) a cheap labor pool, educated in the English language and under ...
Sales and Use Tax. The Puerto Rico Sales and Use Tax (SUT, Spanish: Impuesto a las Ventas y Uso, IVU) is the combined sales and use tax applied to most sales in Puerto Rico. As of 2020, the tax rate is 11.5%: 1.0% of the tax collected goes to the municipality where the sale was executed (there are 78 municipios - municipalities), and 10.5% of ...
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