Wal-Mart Is Taking Puerto Rico's Tax Hike To The Courts
In response to an "onerous" tax hike in Puerto Rico, Wal-Mart decided to sue the U.S. territory.By Katie Link | December 7, 2015
As if an economic "death spiral" wasn't bad enough, now Puerto Rico has another thing to worry about. Late last week, the government was slapped with a lawsuit from the island's biggest private employer over a tax dispute.
Because of the tax increase, Wal-Mart estimates it will have to pay 91.5 percent of its net income in Puerto Rico in taxes. That's three times what it pays in taxes anywhere else.