Puerto Rico implements sales tax
The governor of Puerto Rico Tuesday signed into law a first-ever sales tax, ending a long political battle that concluded only after an 11th-hour court order.
A sales tax of up to 7 percent was the centerpiece of a proposal to stabilize the budget of the government of Puerto Rico. The issue attracted widespread attention in the springtime when some government offices were briefly shut down.
Officials from Florida-base shipping companies in the Puerto Rico Jones Act market have expressed hope this year's political settlements would help stabilize the economy.
The final agreement came after the Supreme Court ordered Puerto Rico House President Jose Aponte to sign off on the legislation. The Puerto Rico House had backed a sales tax of up to 5.5 percent, while the Senate version called for a tax of up to 7 percent. The House leader had refused to approve the legislation for the last week, according to various news reports.
Puerto Rico implements sales tax
