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Taxation in Puerto Rico consists of taxes paid to the United States federal government and taxes paid to the Government of the Commonwealth of Puerto Rico.Payment of taxes to the federal government, both personal and corporate, is done through the federal Internal Revenue Service (IRS), while payment of taxes to the Commonwealth government is done through the Puerto Rico Department of Treasury ...
In the spring of 2024, FOMB sent two letters to the Governor of Puerto Rico and the legislature threatening to overturn a solar net energy metering law, known as Act 10. [ 17 ] [ 18 ] Act 10 was unanimously passed by the legislature in 2023, and signed into law by Governor Pierluisi in January 2024, and it extended net energy metering for new ...
Puerto Rico celebrates all official U.S. holidays, [1] and other official holidays established by the Commonwealth government. Additionally, many municipalities celebrate their own Patron Saint Festivals (fiestas patronales in Spanish), as well as festivals honoring cultural icons like bomba y plena, danza, salsa, hamacas (hammocks), and popular crops such as plantains and coffee.
March 10 – 2024 Puerto Rico Republican presidential primary [2] April 3 – The United States Army Corps of Engineers begins dredging the San Juan Bay to open space for a new natural gas terminal that is expected to add $400 million to the local economy. [3] 5 May – Rains occur in Puerto Rico, where planes are landed in San Juan to reroute ...
The Puerto Rico Department of Treasury (Spanish: Departamento de Hacienda de Puerto Rico) is the executive department of the government of Puerto Rico responsible for the treasury of the U.S. Commonwealth of Puerto Rico. It is one of the constitutionally-created executive departments and is headed by a Secretary. [1]
Like all municipalities of Puerto Rico, Aibonito is subdivided into administrative units called barrios, which are, in contemporary times, roughly comparable to minor civil divisions. [1] The barrios and subbarrios, [ 2 ] in turn, are further subdivided into smaller local populated place areas/units called sectores ( sectors in English).
The economy of Puerto Rico is classified as a high-income economy by the World Bank and as the most competitive economy in Latin America by the World Economic Forum. [14] [15] The main drivers of Puerto Rico's economy are manufacturing, which primarily includes pharmaceuticals, textiles, petrochemicals, and electronics; followed by the service industry, notably finance, insurance, real estate ...
The Office of the Commissioner of Financial Institutions of Puerto Rico—in Spanish: Oficina del Comisionado de Instituciones Financieras (OCIF)—is an office of the Department of Treasury of Puerto Rico that supervises and regulates Puerto Rico's financial sector to ensure its safety and soundness, as well as to oversee a strict adherence to all applicable laws and regulations.