Puerto Rico's July General Fund revenues came in 1% above the government's forecast for the month.
Whereas the Puerto Rico Department of Treasury had expected revenues to be $698 million, the department currently believes they were $705 million. The July total was a 6% increase from the July 2015 income.
The biggest sources of revenues were excise taxes on foreign corporations, which brought in $228 million, and individual income taxes, which brought in $150 million.
The biggest exceedance over projections was in the foreign corporation excise tax, which brought in $28 million more than expected. The biggest shortfall from projection was in taxes on alcoholic beverages, which was $10 million below the official projection.
July was the first month of the fiscal year.
