Thursday, August 18, 2022

Hacienda Carries Out New Round of Business Embargoes

By on March 10, 2016

It’s another week, another round of business embargoes at the Puerto Rico Treasury Department, better known as Hacienda. On Thursday, the government agency closed three establishments in the San Juan metro area, mostly for failing to remit to Hacienda the sales taxes they charged from customers.

zaragosa fortaleza

Treasury Department Secretary Juan Zaragoza

In all, the three establishments owed a total more than $350,000 in back taxes. Two of the embargoed businesses, Fortaleza Security and Power Security, are based in Carolina and, as their names imply, specialize in security services. They respectively owe $115,000 and $130,000 in IVU (Spanish acronym for sales tax) remittances, said Hacienda Secretary Juan Zaragoza.

The third establishment, Choosy Accessories, has locales inside shopping centers in Carolina and Guaynabo, and owes around $130,000 in IVU money to Hacienda.

With Thursday’s embargoes, the list of businesses that Hacienda has hit for not complying with their tax obligations has ballooned to 60, representing around $30 million in total tax debt.

Zaragoza noted that, since the recent spate of embargoes, various businesses have approached the agency to settle their own tax debts. After a business is embargoed, its owners have up to 30 days to pay off the tax debt; otherwise, the embargo is executed and the property put up for public auction.

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