Wal-Mart suing Puerto Rico over tax hike

Wal-Mart Stores Inc’s Puerto Rican unit has sued the island’s government, reports Bloomberg.

Bloomberg adds the company is seeking to overturn a tax hike, which “increases to 6.5% from 2% the tax on goods imported from offshore affiliates to local companies [that have] gross revenues of more than $2.75 billion.” Read more.

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