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Puerto Rico News




Bill Would Exclude US Territories, Possessions From GILTI Regime

by Mike Godfrey, Tax-News.com Washington

Friday, May 15, 2020

On May 4, 2020, a bill was introduced in the United States House of Representatives to limit the impact of the Global Intangible Low Tax Income regime on businesses based in US territories and possessions. Read Full Story

 


Puerto Rico Announces COVID-19 Tax Measures

by Mike Godfrey, Tax-News.com Washington

Wednesday, April 15, 2020

On March 23, 2020, the Government of Puerto Rico announced a package of measures to mitigate the economic impact of the COVID-19 virus, including tax relief. Read Full Story

 


IRS Offers Tax Relief To Puerto Rico

by Mike Godfrey, Tax-News.com, 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, Tax-News.com, 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, Tax-News.com, 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, Tax-News.com, 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, Tax-News.com, 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, Tax-News.com, 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, Tax-News.com, 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, Tax-News.com, 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

 

 

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