A NEW TAX LAW: A new beginning for Puerto Rico

Ruiz, Rebecca Vargas
November 2006
Caribbean Business;11/30/2006, Vol. 34 Issue 47, Special section p18
The article discusses on the provisions of the Substitute House Bill 2193 or the Tax Justice Act of 2006 signed by Puerto Rico's Honorable Anibal Acevedo Vilá. This legislation is expected to bring new recurring income into the general fund of the island's Commonwealth. The Act is considered to be a revision of its Internal Revenue Code of 1994. Included in the Act's amendment is the eradication of the five percent general excise tax and the conception of the sales and use tax.


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