Since the beginning of 2019, any person engaged in doing business in Puerto Rico and paying for rendered services to another person must deduct and
The Treasury Department (TD) issued Internal Revenue Informative Bulletin 21-06 to inform that the Model SC 2921-Debt Certification on Sales and Use Tax has
On March 12, 2020, the Governor of Puerto Rico issued Executive Order No. OE-2020-020 to declare a state of emergency on the imminent impact
The Treasury Department (TD) issued its Internal Revenue Circular Letter No. 19-14 (CC RI 19-04) to inform on the content and procedures related to
In response to the state of emergency declared by the Governor of Puerto Rico due to the earthquakes of January 2020, the Treasury Department
The Internal Revenue Code establishes that any taxable item purchased for official business by government agencies or departments may be exempt from paying Sales
In its Administrative Determination No. 19-07, the Treasury Department (TD) explains penalties to be imposed on merchants for not complying with the requirements of
“An engineer faces charges for aggravated illegal appropriation, fraud and tax evasion after allegedly using two corporate cards for his own benefit, police said.” El
On December 10, 2018, Law No. 257, known as the “Tax Reform”, was approved. It has brought significant changes in the items to be
In response to multiple requests from employers that wish to obtain the benefit for the retention of employees post the 2017 hurricanes, the
By means of Municipal Ordinance No. 23-2018-2019 Series, the city of San Juan establishes a special amnesty period for the payment of Municipal SUT
By means of an administrative order, the Secretary of Labor and Human Resources (DLUR) postpones the beginning of the obligation for electronically filing the
Double Taxation Dividends Conventional wisdom dictates that most companies should be carried out as pass-through entities because that avoided the dreaded double taxation
Moving to Puerto Rico does nothing to shelter previous appreciation/loss capital gains/loss Determining how to split a capital gain between appreciation/loss that happened
(Versión en español “Radicación Planillas Corporativas para el año 2018”) The Treasury Department (TD) annually issues Form 480.2, “Income Tax for Corporations” (Corporate Tax Return)
In this issue: We list the exceptions for which certain taxpayers must file their tax return on paper. In addition, we describe the process
In this issue: As part of the implementation of Law No. 257 of December 10, 2018, known as Tax Reform, the Treasury Department (TD)
Payment for services rendered in Puerto Rico by Entities Doing Business in Puerto Rico duly registered in Puerto Rico State Department Any naturalized
As a result of the Phase II transition to the Unified Internal Revenue System (SURI) completed on December 10, 2018, all employers, withholding agents,
In this issue: As a supplement to the tax incentives provided by Acts 20 and 22, some municipalities of Puerto Rico have added benefits
In this issue: On its Internal Revenue Informative Bulletin No. 18-24, the Treasury Department (TD) informs that beginning on January 1, 2019 the 7%
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