Wednesday, August 15, 2018

Hurricane-hit businesses in Puerto Rico have received $100 million in credit

By on August 8, 2018
Governor issues statement announcing 4th round of Employee Retention Tax Credit program

SAN JUAN – While in Argentina Wednesday, Puerto Rican Gov. Ricardo Rosselló announced that the island’s Treasury Department has made $100 million available to employers affected by hurricanes Irma and María, after issuing a fourth payment, of $20 million.

This disbursement corresponds to 975 applications received after the federal government approved the employee-retention benefit plan on June 4.

“With the support of the federal government, we continue to issue disbursements to entrepreneurs who continue to be committed to the island after the onslaught of past hurricanes. We hope that this economic support will support the process of recovery of entrepreneurs,” the governor said in a release.

“With this disbursement, local employers get an economic boost in amid the recovery after the impact of the two hurricanes. Employers can receive up to $1,920 per eligible employee. It is vital that eligible employers who have not requested this benefit do so electronically via the digital platform that the Department designed,” Treasury Secretary-designate Teresita Fuentes added.

For more information, visit Treasury’s website, www.hacienda.pr.gov, call 787-622-0123 or email e-filetrimestral@hacienda.gobierno.pr.

The deadline to apply for the benefit is Nov. 30.

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