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Puerto Rico News - Business, Taxation & Offshore

IRS Offers Tax Relief To Puerto Rico

by Mike Godfrey,, Washington

Friday, October 6, 2017

The United States is to provide tax relief to residents of Puerto Rico and the US Virgin Islands by extending the usual 14-day absence period to 117 days for the presence test for residency under the tax rules. Read Full Story

Puerto Rico Tax Plan Released

by Mike Godfrey,, Washington

Wednesday, March 8, 2017

Several tax reform measures are included in a fiscal plan published recently by the Government of Puerto Rico intended to stabilize the territory's tax revenue and put an end to serial budget deficits.Read Full Story

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

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