Publications Archive

USEPA Issues Revised Multi-Sector General Permit

Summary of the most significant provisions of the Act modifying current statutory provisions dealing with individual and corporate income taxes. 

Summary of  the most significant provisions of the Act amending the sales and use tax provisions of Subtitle D of the Code, and adding a new Subtitle DD to the Code to include the value added tax provisions.

Sales tax holidays for uniforms and school supplies announced.

This Alert updates our Tax Alerts of May 20 and 21, 2015 regarding House Bill 2482

This is the second Tax Alert on the recently unveiled House Bill 2482 to amend the Puerto Rico Internal Revenue Code of 2011.

House Bill 2482  introduced in the Puerto Rico Legislature in an effort to reach a consensus to raise revenues and obtain a balanced budget for fiscal year 2015-2016.

Procedure to Benefit from the Tax Amnesty

Recent Puerto Rico Supreme Court Holding Regarding the Municipal Authority to Impose Municipal License Tax.

Automatic Release of Imports Repealed for Non-Bonded Importers

Act 44-2015 Implements an Incentives Plan for the Payment of Taxes

Additional Period of Time to Pay or Prepay Income Taxes: Retirement Plans, Individual Retirement Accounts and Education Contribution Accounts

Agreements designed to foster closer and more productive relations between Puerto Rico and the Dominican Republic reached.

Summary of the most significant provisions of the bill modifying current statutory provisions dealing with individual and corporate income tax.

Summary of the most significant provisions of the Code dealing with “conduit entities.”

Puerto Rico Energy Commission Promulgates Regulation for Adjudicative
Procedures, Non-Compliance Notices, Investigations and Rates Review

The Act to Transform Puerto Rico's Tax System

Federal Court declares Debt Restructuring Act for Puerto Rico Public Corporations unconstitutional; permanently enjoins government from enforcing it.

Reminder: Sponsors of PR Qualified Retirement Plans May Be Required to File with
PR Treasury by April 15, 2015 any Plan Restatements and Certain Specific
Amendments to Meet PR Tax Qualification Requirements

The Puerto Rico Energy Commission  issues Order No. CEPR-MI-2014-0001

The Municipal Revenue Collection Center (“CRIM”) issues Circular Letter No. 2015-01.

CIFP Act adopts a digital code which will substitute all permits, certification, licenses and the like which must be posted at any premises, industry or commercial establishment.

Beginning January 16, 2015, the United States government will ease Cuba trade and travel restrictions charting a new course in U.S.- Cuba relations.

January 2015 Tax Free Holiday Reminder

Act. No. 238 Extends Tax Prepayment of Accrued Value of Benefits on Retirement
Plans and IRAs until January 31, 2015

Obama Administration Charts a New Course for U.S. - Cuba Relations

Technical Amendments to the Puerto Rico Internal Revenue Code of 2011

Puerto Rico Department of the Treasury issues Administrative Determination 14-28

Puerto Rico Treasury issues Circular Letter of Tax Policy No.14-05 notifying the cost-of-living adjustments announced by the IRS for taxable year 2015.

Puerto Rico Qualified Plans Must be Amended on or before December 31, 2014, to comply with the Post Windsor Requirements.

Puerto Rico Supreme Court Recognizes the Existence of Private Residential Roads under Puerto Rico Law

Senate Bill No. 862  becomes Act. No. 185, the new Private Equity Funds Act.

The Municipality of San Juan implements municipal license tax amnesty.

PR Department of Treasury  issues Administrative Determination No. 14-27

Puerto Rico Treasury Department issues additional guidance regarding the remittance options with of  the 2% Special Charge on eligible money transfer transactions.

Act 174 Extends Incentive Plan on Amounts owed by Employers

Renewal Reminder: Reseller and Municipal Sales and Use Tax Exemption Certificates

PR Treasury Postpones Enforcement of 2% Charge on Money Transfers

PR Treasury issues guidance with respect to municipal sales and use tax returns

PR Treasury issues Tax Policy Informative Bulletin No. 14-02 informing name change for certain forms. 

Acts 160 and 169: Two new laws that significantly affect Employment Law in Puerto Rico

Additional Guidelines Regarding Tax Prepayment on Retirement Plans Accrued Balances

Carlos Fernández-Lugo interviewed and quoted by Latin America Advisor, Inter-American Dialogue's newsletter.

Paper format returns allowed as alternative method for filing the monthly sales and use tax returns

Puerto Rico Department of the Treasury eliminates the requirement of uploading certain information required by Administrative Determination 14-20.

Administrative Determination 14-22 extends various due dates related to the reporting and payment of the sales and use tax.

Administrative Determinations 14-19 and 14-20 offer further guidance on the filing and payment of the Sales and Use Tax

Investment by Puerto Rico Qualified Retirement Plans and Insurance Company Separate Accounts in “81-100 Group Trusts”

Puerto Rico Treasury Department issues AD 14-17 to inform about the new Supplemental Information of the Audited Financial Statements Filing System and to extend the due date for submitting the Supplemental Information.

Circular Letter 14-16 Provides Guidance Regarding Tax Prepayment on Accrued Value of Retirement Plan Benefits