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Treasury Closes More Businesses for Sales and Use Tax Violations

By on July 8, 2016

SAN JUAN – Treasury Secretary Juan Zaragoza said Friday that two more companies in the metropolitan area were intervened with for combined tax debts amounting to $424,742, primarily related to the sales-and-use tax (IVU by its Spanish acronym).

Puerto Rico Treasury Secretary Juan Zaragoza

Puerto Rico Treasury Secretary Juan Zaragoza

The secretary said that among the shuttered businesses was clothing store Vans’ locations in Plaza Las Américas and the Mall of San Juan, for an IVU debt of $251,441 and $12,438 owed for other unspecified matters.

Suárez Sales, a cleaning products distributor in Cataño owed about $106,785 in unremitted IVU and $54,076 for withheld employee taxes.

As part of Treasury’s initiative, it has embargoed 126 businesses to date for combined debts totalling more than $48.1 million, Zaragoza said while reminding business people that in addition to any civil action, such as the imposition of fines, penalties and interest, not collecting the IVU or collecting it but not sending it to Treasury, “is a crime because those are public funds.”

Treasury says all embargo operations are conducted to ensure the collection of debts with the Commonwealth. After 30 days of being notified by Treasury, an embargo will be executed if the debt is not paid in full. Seized property will be sold at public auction as soon as possible, without further notice.

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