Puerto Rico House Mistakenly OKs New 7% Sales Tax Pending Approval

Cataldo, Adam L.
June 2006
Bond Buyer;6/28/2006, Vol. 356 Issue 32412, p7
Trade Publication
The article reports on the mistake on the percentage of sales tax approved by the Puerto Rico House of Representatives. Legislators approve the establishment of a sales tax they though to be 5.5 percent. However, they later found out that they approved a 7 percent sales tax. This error will allow the commonwealth to establish a 7 percent sales tax. Senate President Kenneth McClintock and Governor Anibal Acevedo Vila approve the said tax.


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