Puerto Rico's tax collections in May rose $141 million, or 23 percent, compared to the prior year period, outstripping government estimates by $29 million, according to preliminary data released by the Treasury department on Tuesday.
"The increase is attributable to income measures approved in the previous year's budget to reduce the fiscal deficit, particularly the gross receipt tax and the increased foreign corporations excise tax rate, as well as efforts to stop tax evasion and increase collections," Secretary of the Treasury Melba Acosta Febo said in a statement. (Reporting by Edward Krudy; Editing by Chizu Nomiyama)
Puerto Rico preliminary May tax collections up $141 mln | Reuters
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