Puerto Rico Tax News

Inflation Reduction Act does not trigger 15% income tax rate on industrial development income in Puerto Rico 10 November 2022
Puerto Rico’s Office of Management and Budget extends due date for filing the 2022-2023 volume of business declaration to 22 December 2022 because of Hurricane Fiona 17 October 2022
Puerto Rico’s Treasury Department issues guidance on the tax measures and extended due dates in place because of Hurricane Fiona 3 October 2022
US IRS and Treasury intend to issue proposed regulations on application of the noncompulsory payment regulations to certain amended Puerto Rico tax decrees 26 September 2022
IRS Issue Notice on Application of Foreign Tax Credit Noncompulsory Payment Rules to Amended Tax Decrees between MNEs and Puerto Rico 20 September 2022
EY Global Tax Controversy Flash Newsletter (Issue 50) | Updates to MAP processes may increase taxpayer participation 13 September 2022
US Sixth Circuit rules in favor of Eaton in appeal from Tax Court regarding APA cancellation 6 September 2022
Puerto Rico’s Department of State extends due date to 18 October 2022, for filing annual reports for corporations requesting a second extension 30 August 2022
US Tax Court increases Medtronic royalty rate under unspecified method 25 August 2022
Puerto Rico's Municipal Income Collection Center extends due date for property tax return to 22 August 2022 15 August 2022
Puerto Rico Provides Alternative Income Tax Election for Manufacturing 3 August 2022
EY Global Tax Controversy Flash Newsletter (Issue 47) | Cross-border tax controversy on the rise: transfer pricing trends in the life sciences sector 17 June 2022
EY Global Tax Controversy Flash Newsletter (Issue 46) | Is your organization ready to meet growing global demands for tax governance? 17 May 2022
Puerto Rico extends due date for volume of business declarations 25 April 2022
Puerto Rico Provides Brief Tax Return and Payment Extension 15 April 2022
EY Global Tax Controversy Flash Newsletter (Issue 45) | What 2022 may hold for global tax policy and controversy 12 April 2022
Puerto Rico’s Department of State extends due date for filing annual reports and paying annual fees 12 April 2022
Puerto Rico’s Treasury Department extends due date for certain income tax returns 11 April 2022
EY Global Tax Controversy Flash Newsletter (Issue 44) | Operating model design: The importance of keeping controversy front of mind 15 March 2022
EY Global Tax Controversy Flash Newsletter (Issue 41) | How businesses can navigate transfer pricing risks 14 December 2021
Puerto Rico Introduces Consolidated Monthly Return for Sales and Use Tax and Import Tax 4 November 2021
Puerto Rico Corrects Administrative Determination Regarding Transfer Pricing Study Certification 19 October 2021
EY Global Tax Controversy Flash Newsletter (Issue 39) | Shifting international tax landscape may bring greater tax controversy risks 19 October 2021
US House Ways & Means reconciliation bill proposes important credits and incentives that would encourage investment in Puerto Rico 14 October 2021
Puerto Rico’s Treasury Department clarifies guidance on transfer pricing studies and certification required with income tax return 30 September 2021
Puerto Rico's Department of State further extends due date to file 2020 corporate annual reports 29 September 2021
EY Global Tax Controversy Flash Newsletter (Issue 38) | Trends in cross-border tax controversy: multilateralism rising 14 September 2021
U.S. Senators Mendez and Wicker Reintroduce Legislation Providing Tax Credit for Investments Made by U.S. Businesses in U.S. Territories 2 August 2021
EY Global Tax Controversy Flash Newsletter (Issue 36) | Tax risk and controversy for the C-suite 12 July 2021
EY Global Tax Controversy Flash Newsletter (Issue 35) | Future proof now, not later, as transfer pricing scrutiny evolves 15 June 2021