Hacienda opens the tax-filing cycle and projects $1,000 million in the Work Credit

Puerto Rico Department of Hacienda acting secretary Nelson J. Pantoja announced the official opening of the electronic filing period for the Individual Income Tax Return corresponding to the prior tax year through the Unified Internal Revenue System (SURI) platform.

The fiscal agency projects disbursing more than $1,000 million through the Work Credit (the local Earned Income Tax Credit), a benefit backed by recurring federal allocations after the ARPA statute's approval. The refundable incentive provides direct financial relief of up to thousands of dollars to hundreds of thousands of wage workers and self-employed people of low and moderate income with dependents.

Acting secretary Nelson J. Pantoja highlighted that the tax credit has proven to be one of the most effective public-policy tools for encouraging people to join the formal labor force and mitigating inflation's effects on the basic family basket. Hacienda enabled orientation and assisted-filing centers in shopping malls across the island to facilitate the free process for pensioners and working families.

Source: El Vocero. https://www.elvocero.com/economia/hacienda-abre-ciclo-contributivo-y-destaca-credito-por-trabajo/article_69haciendaplanillas.html