TITLE

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

AUTHOR(S)
Cataldo, Adam L.
PUB. DATE
June 2006
SOURCE
Bond Buyer;6/28/2006, Vol. 356 Issue 32412, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
21470296

 

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