Puerto Rico drops VAT plans; higher taxes on multinationals likely to compensate

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Puerto Rico drops VAT plans; higher taxes on multinationals likely to compensate

Joe Stanley-Smith
May 12 2015

Puerto Rico’s parliament has voted down plans to introduce a VAT of 16%, leading to fears that the government could impose higher taxes on large multinationals, defined as those generating more than $600 million in sales, to plug the territory’s budget deficit.

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NewsUnited StatesDirect TaxIndirect TaxNorth America
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Joe Stanley-Smith
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Joe manages ITR’s online and print coverage, and the publication’s events worldwide. He covers a range of tax issues affecting multinational corporations, particularly indirect tax matters and case studies.
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