Puerto Rico hidding rum money from St Thomas
Staff Writer
2010-03-09
.bugnews.bloggieblog.com .
This is a big problem in the United States Caribbean Islands. The main players are Puerto Rico and US ST Thomas, VI. For some reason, the African American business people in Puerto Rico feel they are not being treated fairly when it comes to the rum tax on the exports. The members involved in this rum trade want to know about all contracts. The only problem is Puerto Rico has some secret contracts which details have not been released.
"Today's the day for Puerto Rico to come clean on all direct and indirect payments to its rum companies. It is important that Puerto Rico reveal its rum contracts, including with Bacardi, the largest rum maker in the world," said NBCC President and CEO Harry C. Alford. "By failing to be transparent, Puerto Rico's government is creating an uneven playing field in the rum industry. The Puerto Rican people should be concerned about Governor Fortuno's lack of commitment to good, clean government."
Puerto Rico has launched an aggressive lobbying campaign to dictate how the U.S. Virgin Islands (USVI) uses its rum excise tax cover-over revenue, which is generated by the territory's rum production. Puerto Rico's attacks have come even as its own use of revenue is veiled in secrecy, with rumors of hidden payments to Puerto Rican rum makers outside the rum cover-over economic development program.
"Without transparency, businesses and governments fail because people can't trust them," Alford said. "The cloud of secrecy remains over Puerto Rico, and their vicious attacks against the U.S. Virgin Islands and its economy won't deflect criticisms of Puerto Rico or answer our concerns."