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Economy of Puerto Rico. The Internal Revenue Code of Puerto Rico (Spanish: Código de Rentas Internas de Puerto Rico) is the main body of domestic statutory tax law of Puerto Rico organized topically, including laws covering income taxes, payroll taxes, gift taxes, estate taxes, and statutory excise taxes. [1]
Sales and Use Tax. The Puerto Rico Sales and Use Tax (SUT, Spanish: Impuesto a las Ventas y Uso, IVU) is the combined sales and use tax applied to most sales in Puerto Rico. As of 2020, the tax rate is 11.5%: 1.0% of the tax collected goes to the municipality where the sale was executed (there are 78 municipios - municipalities), and 10.5% of ...
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]
The governor of Puerto Rico is the head of government of the Commonwealth of Puerto Rico. The position was first established by the Spanish Empire during the 16th century following the archipelago's colonization. The first person to officially occupy the position was Spanish conquistador Juan Ponce de León in 1509. [ 1]
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 ...
In 2017, there were 69 hospitals in Puerto Rico. [289] Reforma de Salud de Puerto Rico (Puerto Rico Health Reform) – locally referred to as La Reforma ('The Reform') – is a government-run program which provides medical and health care services to the indigent and impoverished, by means of contracting private health insurance companies ...
v. t. e. The government of the Commonwealth of Puerto Rico is a republican form of government with separation of powers, subject to the jurisdiction and sovereignty of the United States. [ 1][ 2] Article I of the Constitution of Puerto Rico defines the government and its political power and authority. The powers of the government of Puerto Rico ...
The municipalities of Puerto Rico ( Spanish: municipios de Puerto Rico) are the second-level administrative divisions in the Commonwealth of Puerto Rico. There are 78 such administrative divisions covering all 78 incorporated towns and cities. Each municipality is led by a mayor and divided into barrios, third-level administrative divisions ...