Tag: U.S. Internal Revenue Code

Bipartisan Budget Act of 2018 Includes Provisions That Puts A Stay On Planned Reductions In Rum Cover Over For V.I. and P.R.

WASHINGTON — Congress approved the “Bipartisan Budget Act of 2018” early Friday morning. It is a complex piece of legislation that includes important modifications to the excise tax known as the “rum cover over,” which is an important revenue source for the U.S. Virgin Islands and Puerto Rico. The temporary excise tax relief provided to […]