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The Office of the Commissioner of Financial Institutions of Puerto Rico—in Spanish: Oficina del Comisionado de Instituciones Financieras (OCIF)—is an office of the Department of Treasury of Puerto Rico that supervises and regulates Puerto Rico's financial sector to ensure its safety and soundness, as well as to oversee a strict adherence to all applicable laws and regulations.
Sales and Use Tax. The Puerto Rico Sales and Use Tax (SUT, Spanish: Impuesto a las Ventas y Uso, IVU) is the combined sales and use tax applied to most sales in Puerto Rico. As of 2020, the tax rate is 11.5%: 1.0% of the tax collected goes to the municipality where the sale was executed (there are 78 municipios - municipalities), and 10.5% of ...
Financial Oversight and Management Board for Puerto Rico. Financial Oversight and Management Board for Puerto Rico (FOMBPR), colloquially known as La Junta de Control/Supervisión Fiscal is a government entity whose role to revise and approve the budget and obligations of the government of Puerto Rico was created by federal law PROMESA.
The Puerto Rico Department of Housing, created in 1972, [9] succeeded the Urban Renewal and Housing Corporation, or Corporación de Renovación Urbana y Vivienda (CRUV, its Spanish acronym), [10] which was created in the late 1950s to succeed the Puerto Rico Housing Authority, created by Gov. Luis Muñoz Marín and headed by Juan César Cordero ...
The Budget of the Government of Puerto Rico ( Spanish: Presupuesto del Gobierno de Puerto Rico) is the proposal by the Governor of Puerto Rico to the Legislative Assembly which recommends funding levels for the next fiscal year, beginning on July 1 and ending on June 30 of the following year. This proposal is established by Article IV of the ...
The Government Development Bank for Puerto Rico (GDB) — Spanish: Banco Gubernamental de Fomento para Puerto Rico (BGF)— is the government bond issuer, intragovernmental bank, fiscal agent, and financial advisor of the government of Puerto Rico. [1][2] The bank, along with its subsidiaries and affiliates, serves as the principal entity ...
e. The Economic Development Bank for Puerto Rico — Spanish: Banco de Desarrollo Económico para Puerto Rico (BDE)— is a government-owned corporation of Puerto Rico that provides loans, loan guarantees, and funds to private organizations whose economic activities have the effect of replacing imports in Puerto Rico. [1]
The Puerto Rico Municipal Financing Agency ( MFA) — Spanish: Agencia para el Financiamiento Municipal de Puerto Rico ( AFM )— is the municipal bond issuer and an intragovernmental bank of the government of Puerto Rico. [1] The Agency is a government-owned corporation of the government of Puerto Rico and a principal affiliate of the Puerto ...