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(CNN Spanish) - The governor of Puerto Rico, Wanda Vázquez, announced a series of economic measures to mitigate the impact that the fight against the coronavirus will have on the island's economy.
The Government will continue to pay the salaries of public employees during the quarantine period. Vázquez asked that mayors adopt the same measure to also protect municipal employees.
For the private sector, Vázquez said he instructed the Treasury department:
- extend income tax payment period until July 15
- suspend the collection of the Sales and Use Tax (IVU (at the docks and in the resale chain) for the next 3 months
- suspend for a period of 3 months the 10% withholding at the origin of payments for professional services.
- not to impose penalties for non-compliance with the fortnightly IVU for two months; nor impose penalties for non-compliance with the payment of the first installments of the estimated tax
In addition, the governor announced that self-employed workers, some 170,000 people according to government data, will receive an incentive of US $ 500 "to mitigate any emergency situation that may be happening," said Vázquez.
Medium and small businesses that have had to close amid the coronavirus crisis will also receive an incentive. The Department of Economic Development will allocate US $ 1,500 for each company, Vázquez reported.
Additionally, financing will be granted to hospitals and a bonus will be awarded to health workers as well as emergency response personnel and firefighters. According to the governor, a bonus of up to US $ 4,000 was established for all nurses in the public and private system and up to US $ 2,500 for health technicians; up to $ 4,000 for emergency medical response personnel and a contribution of up to $ 3,500 for police, fire and correctional officers.
Among other measures, Vázquez assured that public services will not be suspended, said that unemployment services were increased and established and a period of 90 days of moratoriums on the payment of mortgages, cars, personal loans, commercial loans and credit cards.
