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Search resuls for: "Puerto Rico — Puerto Rico"


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SAN JUAN, Puerto Rico — Puerto Rico activated the National Guard and canceled the start of classes in public schools as forecasters warned that the U.S. territory would be hit by Tropical Storm Ernesto, which formed in the Atlantic Ocean on Monday. Tropical storm warnings were in effect for Puerto Rico, the U.S. and British Virgin Islands, Antigua, Barbuda, Anguilla, St. Kitts, Nevis, Montserrat, Guadeloupe, St. Martin, St. Barts and St. Maarten. Officials in the French Caribbean said the storm was expected to drench Guadeloupe on Monday and pass near St. Barts and St. Martin. The National Hurricane Center said Ernesto is forecast to approach Puerto Rico and the U.S. and British Virgin Islands on Tuesday evening. In the neighboring U.S. Virgin Islands, Gov.
Persons: Tropical Storm Ernesto, Martin, Ernesto, ” Nino Correa, Ernesto Morales, , Albert Bryan Jr Organizations: JUAN, Puerto Rico —, National Guard, Tropical, Atlantic, National Hurricane Center, British Virgin Islands, National Weather Service, Gov, Atmospheric Administration, NBC Locations: Puerto Rico, Puerto Rico — Puerto Rico, U.S, British Virgin Islands, Antigua, Barbuda, Anguilla, St, Kitts, Nevis, Montserrat, Guadeloupe, Barts, Maarten, French Caribbean, British Virgin, Puerto, San Juan, Virgin Islands, Bermuda
SAN JUAN, Puerto Rico — Puerto Rico announced Tuesday that it will start cracking down on those who abuse the U.S. territory’s tax credit system, an opaque and long unregulated sector with claims that average about $270 million a year. For years, Puerto Rico’s government has been unable or unwilling to provide specific numbers related to tax credits awarded, for example, to those who build hotels or invest in the local manufacturing or movie industries. The crackdown was announced a week after Puerto Rico’s governor increased from $38 million to $100 million the annual limit of tax credits for film projects developed on the island. Parés said current incentives will expire in upcoming years and then fall under the new system, which launches Wednesday. Under the old system, the island’s Treasury Department, its Department of Economic Development, Department of Housing and its Tourism Company were responsible for overseeing tax credits.
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