These are the stores that most Puerto Ricans buy their stuff at! There are not that many other options in a 100×35 miles island. There again …. screw Puerto Rico!!
This week, Wal-Mart Puerto Rico, Inc. filed a lawsuit against the Commonwealth of Puerto Rico in an effort to overturn a tax law known as Act 72, which Walmart says is discriminatory, and violates federal laws and the U.S. Constitution. The case is Wal-Mart Puerto Rico Inc. v. Zaragoza-Gomez, 15-cv-3018, U.S. District Court, District of Puerto Rico (San Juan).
According to the complaint, Wal-Mart PR operates 55 Walmart Stores, Sam’s Clubs, Supercenters, Super Ahorros, and Amigos stores in Puerto Rico, which collectively produce an annual net income of $49,450,000. The complaint further alleges that Act 72 will tax away 91% of this net income, or roughly $45 million.
According to the complaint, this tax rate is triple what Walmart is paying around the world.
On the face of it, Walmart has a reasonable point. However, I do have one question:
Are we really to believe that 55 Walmart…
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