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Puerto Rico News - Business, Taxation & Offshore

US Congress Issues Final Puerto Rican Report

by Glen Shapiro,, New York

Tuesday, December 27, 2016

The US Congressional Task Force, which was asked this year to look at policies to stimulate future economic growth in Puerto Rico, has provided a final report, which includes recommendations on tax changes for both individuals and companies.Read Full Story


US Administration Pushes For Puerto Rican Tax Credits

by Leroy Baker,, Washington

Tuesday, November 15, 2016

On November 11, during remarks before the National Tax Association, Antonio Weiss, Counselor to the US Treasury Secretary, stated that expanding Puerto Rican eligibility for the earned income tax credit and the child tax credit should be part of the solution to rebuild the island's economy. Read Full Story



US Congress Passes Puerto Rico Debt Relief Bill

by Mike Godfrey,, Washington

Monday, July 4, 2016

The Puerto Rico Oversight, Management, and Economic Stability Act, which is intended to assist a restructuring of Puerto Rico's debt, has been passed by the US Congress, without the inclusion of an eligibility for federal tax credits.Read Full Story


Puerto Rico's VAT Plans Blocked By Lawmakers

by Mike Godfrey,, Washington

Tuesday, May 31, 2016

Puerto Rico will no longer adopt a value-added tax, after lawmakers in the Senate voted to overthrow an attempt by Puerto Rico's Governor, Alejandro Garcia Padilla, to veto previously passed repeal legislation.Read Full Story



No US Tax Credits In Puerto Rican Congressional Legislation

by Mike Godfrey,, Washington

Monday, May 23, 2016

The revised bipartisan legislative framework introduced into the US Congress to address the urgent need for a restructuring of Puerto Rico's debt does not include an eligibility for federal tax credits. Read Full Story


Puerto Rico Defers VAT Plans

by Mike Godfrey,, Washington

Wednesday, March 16, 2016

Puerto Rico's Treasury announced on March 7, 2016, that the territory has decided to defer until June 1, 2016, the replacement of the sales tax with a value-added tax.Read Full Story