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Taxation in Puerto Rico consists of taxes paid to the United States federal government and taxes paid to the Government of the Commonwealth of Puerto Rico.Payment of taxes to the federal government, both personal and corporate, is done through the federal Internal Revenue Service (IRS), while payment of taxes to the Commonwealth government is done through the Puerto Rico Department of Treasury ...
The Puerto Rico Department of Treasury (Spanish: Departamento de Hacienda de Puerto Rico) is the executive department of the government of Puerto Rico responsible for the treasury of the U.S. Commonwealth of Puerto Rico. It is one of the constitutionally-created executive departments and is headed by a Secretary. [1]
The secretary of treasury of Puerto Rico (commonly known as the treasurer of Puerto Rico) is the chief financial officer and the treasurer of the government of Puerto Rico. Secretaries [ edit ]
In the largest tax audit in U.S. history, the IRS rejected Microsoft’s efforts to assign profits to a small factory in Puerto Rico. How a slick accounting maneuver led to a $29 billion tax bill ...
Puerto Rico’s Department of Economic Development has been collaborating with the IRS in its investigation into about 100 cases involving possible Act 22 fraud. Fontan said this collaboration has ...
The Internal Revenue Code of Puerto Rico (Spanish: Código de Rentas Internas de Puerto Rico) is the main body of domestic statutory tax law of Puerto Rico organized topically, including laws covering income taxes, payroll taxes, gift taxes, estate taxes, and statutory excise taxes. [1]
Financial Oversight and Management Board for Puerto Rico (FOMBPR), colloquially known as La Junta de Control/Supervisión Fiscal is a government entity whose role to revise and approve the budget and obligations of the government of Puerto Rico was created by federal law PROMESA.
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 ...