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Treasury Operation Impacts 3 Hotel Restaurants

By on February 23, 2016

SAN JUAN – The Treasury Department intervened with three restaurants in the hotel sector Monday night.

Treasury Secretary Juan Zaragoza explained that the restaurants were targeted, “principally,” for not remitting the sales and use tax (IVU by its Spanish acronym) to the agency. “These establishments failed their employees, their customers and the government for failing to send to the agency the income taxes they retain from their employees and not remitting the IVU they are charging.”

In Treasury’s Tuesday morning statement, Zaragoza broke down the establishments’ debts.

“The embargoed restaurants have accumulated more than $1.2 million in debt, most of which correspond to the IVU,” he said.

One of them, in the La Concha Resort in Condado, owed about $100,000 in IVU and some $150,000 from employer withholdings. The other two establishments, which belong to the same corporation, are located in the El Conquistador Resort in Fajardo and owe Treasury about a $900,000, of which $770,000 is for IVU debt and $180,000 for employee tax withholdings.

“We will continue our debt collection efforts, so I urge merchants and taxpayers to get in touch with the agency and get their tax debts with the agency up to date,” the Secretary concluded.

Treasury says the embargoes are preventive in nature and are conducted to guarantee the collection of debts to the commonwealth. After 30 days of being notified, embargoes will go into effect if the debt hasn’t been paid in full. After that period, seized property, or any part thereof, will be sold at public auction “as soon as possible, without further notice.”

To date, about 51 businesses have been intervened with for tax debts totaling more than $29 million.

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