Wal-Mart Sues Puerto Rico Over ‘Astonishing’ Tax Increases
- Island's biggest employer files suit in San Juan federal court
- Legal challenge comes as Puerto Rico copes with debt payments
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The Puerto Rico unit of Wal-Mart Stores Inc. sued the island’s government, seeking to overturn a new tax the retailer calls unfairly high.
Enacted in May, Puerto Rico’s Act 72-2015 increases to 6.5 percent from 2 percent the tax on goods imported from offshore affiliates to local companies with gross revenues of more than $2.75 billion.