Puerto Rico's VAT Plans Blocked By Lawmakers

Puerto Rico will no longer adopt a value-added tax, after lawmakers in the Senate voted to overthrow an attempt by Puerto Rico's Governor, Alejandro Garcia Padilla, to veto previously passed repeal legislation. Puerto Rico was due to introduce value-added tax in place of sales and use tax (SUT) from June 1. Puerto Rico's Senate on May 5, 2016, unanimously backed legislation earlier supported by the lower house of Parliament on May 2 to prevent value-added tax from being introduced. The Governor thereafter vetoed the legislation. However, lawmakers needed to only muster two-thirds support to override this veto. On May 26, 2016, the Senate voted to abandon the VAT plans by 21 votes to 1. -

by Mike Godfrey, Tax-News.com, Washington

Puerto Rico's VAT Plans Blocked By Lawmakers

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