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Puerto Rico expects to net some $100 mn from tax amnesty

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(Globalpost/GlobalPost)

San Juan, Jun 19 (EFE).- The Puerto Rican government expects to net around $100 million from a tax amnesty that expires June 30, Treasury Secretary Melba Acosta said Wednesday.

There are many tax debtors who have the chance to get up to date with the tax office, she said in a statement on WKAQ radio.

"These debtors have the opportunity to get up to date without paying interest," Acosta said, though adding that after June 30, tax authorities will go after tax dodgers relentlessly.

She said that starting July 1, criminal proceedings will be initiated and that both individuals and big companies that will have to answer to Puerto Rican authorities.

Acosta also mentioned the controversy sparked by a lawmaker's statement that her department was issuing tax-refund checks that are not backed by sufficient funds.

Acosta responded that the refunds are in fact being paid, though she said that due to the many obligations of her department, payments might possibly be delayed in individual cases.

"There is no problem of cash flow. The refunds are being paid," she said.

http://www.globalpost.com/dispatch/news/agencia-efe/130619/puerto-rico-expects-net-some-100-mn-tax-amnesty