Net revenues recorded to the General Fund totaled $708.8 million in May, with fiscal year-to-date (July-May) revenues reaching $8.3 billion, Treasury Secretary Raúl Maldonado Gautier said Tuesday.
The switch-over from a B2B IVU to a B2B IVA should not raise consumer prices nor costs to business, according to Economist Vicente Feliciano, president of Advantage Business Consulting.
Since going into effect last October, the Sales & Use Tax (SUT) on business-to-business (B2B) services has generated $26.4 million, the Puerto Rico Treasury Department reported.