by Torres CPA Group
Effective January 1, 2019, and in order to simplify the rules for the deposit of withholdings of salaries; as well as complying with the recent amendment to the Code, and align these to the Federal Government, we summarize these new rules. Monthly Depositor ...
by Torres CPA Group
Sales and Use Taxes (SUT) A Sale and Use Tax of eleven and a half percent (11.5%) (SUT) applies on sales of tangible personal property, taxable services, admission rights and combined transactions, subject to certain exclusions and exemptions. Designated professional...
by Torres CPA Group
Start Up New Business in Puerto Rico A newly organized or registered business in Puerto Rico must comply with the requirements of different government agencies. Registration and Authorization Before conducting business locally, all corporations or limited liability...
by Torres CPA Group
Puerto Rico has a lot to offer for businesses such as professional environment and tax benefits, because of which thousands of foreign investors have set up their ventures here. This white paper has requirements and taxes information for use by non-residents on doing...
by Torres CPA Group
Individual Tax Residents of Puerto Rico are subject to federal income tax on their worldwide income. However, U.S. Code Section 933 permits a bona fide individual resident of Puerto Rico to exclude the Puerto Rico source of income from his gross income for U.S. tax...
