The Traderszone Network

Published in TZ Latest News 17 September, 2015 by The TZ Newswire Staff

Puerto Rico businesses fret tax hikes will erode profits

SAN JUAN/NEW YORK (Reuters) – Business is tough enough already for Carlos Jimenez without having to face higher taxes. Fast Lane, his three-location car-wash chain in Puerto Rico, has laid off about half the 106 employees it had in 2007. The sales tax also rose, from 7 percent to 11.5 percent, in July.