Treasury Shutters 3 More Businesses
SAN JUAN – The Treasury Department carried out its first revenue-collection operation Friday, shutting down three businesses that owed the agency about $265,000.
In a statement Monday, Secretary Juan Zaragoza said that “during the operation in the municipality of Coamo, furniture manufacturer and warehouse Las Flores Metalarte, which accumulated a sales and use tax [IVU by its Spanish acronym] debt of approximately $208,000, was embargoed.”
Quality Specialty Cleaner, a Carolina-based maintenance services company, was also shuttered. Treasury said it owes $35,000 in withheld IVU, corporate income tax and employer contributions, which were also the reason National Dry Cleaners was intervened with. It owes some $22,000.
“We will continue our collection efforts so business owners and individuals fulfill their responsibility to remit monies that belong to the State. I encourage business owners and taxpayers to approach the agency and put their tax debts up-to-date,” Zaragoza stated.
According to Treasury, some 68 businesses have been impacted so far for combined debts totaling more than $31 million.
Treasury explains the embargoes and closures as preventive in nature and to ensure collection of the debt. Thirty days after notification, embargoes are executed if the debt has not been paid in full or has not been challenged in the Court of First Instance. Moreover, foreclosed property will be sold at public auction “as soon as possible” and with no further notice after that period.