Governor Pedro Pierre Lucy He said on Friday that he had asked his secretary Hasinda, Francisco Pares, Eliminate excise taxes on the most expensive or luxury cars, as they are supposed to be the most attractive cars on the roads.
At the Carrefour Hilton Hotel in Old San Juan, during the Puerto Rico Chamber of Commerce group, “Why do we punish someone who wants to have a car with little luxury or better conditions or better qualities?” He questioned. .
“If we have good vehicles on our roads, in good condition, it is good for everyone. And quality of life. And for the tourism that comes to us: the traveler notices. What do you think if you see all the cars coming to a standstill? ‘Be careful what they do badly, this is horrible here,’ ’the governor added, referring to the use of old vehicles or those in poor condition.
Pierre Louis said it would like to establish a priority rate for electric and hybrid vehicles. “I think the rest of the vehicles will be the same ratio to everything else,” the governor said, however he quickly clarified that this would allow a versatile panel to analyze and make its recommendation.
The Puerto Rico Internal Revenue Code establishes six tax rates for automobiles, with a minimum tax of $ 750 to $ 43,170 for vehicles exceeding 40%.
The previous two four-year periods were managed by administrations Democratic People’s Party (PPD) and New Progressive Party (PNP) Measures have been put forward to reduce taxes on automobiles, but they have not been successful. Governor in 2014 Alejandro Garcia Patila He sent a bill to reduce the motor vehicle tax by 10%, which was not approved. In 2020, the former president Senate, Thomas Rivera Shots, proposes a move to ban car taxes, but receives pocket veto from former governor Wanda Vasquez Karstu And the opposition of the Financial Oversight Board.
Pierluisi also reiterated his intention to phase out the excise tax and eliminate certain rates of income tax for individuals and companies. “Personally, you have to pay with four fees. What you need to look at is what percentage of the first rate applies to whom, the second and third you need to do some economic and practical research to see how much you will charge until you reach fourth place. Replace it. ”, He commented.
In the area of corporate contribution rates, he said, only two rates should be established, one of which offers a discount to those companies in the “preferential” treatment or economic sectors or the government that it wants to promote.
“Some say it’s a tax haven. That nickname does not apply to us. They say we ‘re a tax haven.’
To attract the population and investment currently established in the states, “Florida, Texas, New York, all states where people go pay less than you pay or we can get people. Or where can we get investment.
EconomyPedia defines tax havens as geographical areas with very low tax burdens compared to the rest of the world, and this is generally in favor of non-citizens legally establishing their location there.
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