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Puerto Rico News




IRS Reminds Taxpayers With Foreign Assets To File Returns

by Mike Godfrey, Tax-News.com, Washington

Tuesday, April 14, 2015

The Internal Revenue Service has reminded American citizens and resident aliens, including those with dual citizenship, who have lived or worked abroad during all or part of 2014 that they may have a US tax liability and a filing requirement in 2015. Read Full Story

 


Puerto Rico Enacts Further Tax Amnesty Law

by Mike Godfrey, Tax-News.com, Washington

Friday, April 3, 2015

Puerto Rican Governor Alejandro Garcia Padilla enacted legislation on April 1 to establish a tax amnesty to encourage the payment of overdue taxes, effective immediately, until June 30, 2015. Read Full Story

 


Puerto Rico Launches Tax Reform Guide

by Mike Godfrey, Tax-News.com, Washington

Tuesday, February 24, 2015

On February 20, the Puerto Rican Treasury Department announced the launch of a website detailing the Government's proposals to overhaul the nation's tax regime, including the introduction of a value-added tax and substantial cuts to personal income tax rates. Read Full Story

 


Puerto Rican Income Tax Rates To Fall Under VAT

by Mike Godfrey, Tax-News.com, Washington

Friday, February 13, 2015

Puerto Rico's Governor, Alejandro García Padilla, on February 11, 2015, presented legislation to overhaul the nation's tax regime, including the introduction of a value-added tax and substantial cuts to income tax rates. Read Full Story

 


Puerto Rico To Table Legislation To Introduce VAT

by Mike Godfrey, Tax-News.com, Washington

Friday, February 6, 2015

Puerto Rico's Secretary of the Treasury, John Zaragoza Gomez, on February 2, 2015, announced the launch of "a massive educational campaign" on the territory's plans to overhaul the structure of the tax system with the introduction of a new value-added tax. Read Full Story

 


IRS Issues Revised Tax Guide For Aliens

by Mike Godfrey, Tax-News.com, Washington

Tuesday, February 3, 2015

The Internal Revenue Service has released revised versions of its Tax Guide for Aliens and its Tax Guide for Individuals Receiving Income from the United States Possessions – American Samoa, Puerto Rico, the US Virgin Islands, Guam, and the Northern Mariana Islands. Read Full Story

 


Puerto Rico Finally Approves Oil Tax Hike

by Mike Godfrey, Tax-News.com, Washington

Thursday, December 11, 2014

After prolonged discussions, and a threat from Governor Alejandro Garcia Padilla to shut down public transport services, both Puerto Rico's House of Representatives and Senate have now approved a controversial 68 percent hike in oil tax to stop a possible worsening of the territory's debt problems. Read Full Story

 


Puerto Rico's House Approves Oil Tax Hike

by Mike Godfrey, Tax-News.com, Washington

Thursday, December 4, 2014

Puerto Rico's House of Representatives has approved a controversial 68 percent hike in oil tax to stop a possible worsening of the territory's debt problems, following a stand-off with Governor Alejandro Garcia Padilla, who had threatened to shut down public transport services. Read Full Story

 


Puerto Rico To Cut Motor Vehicle Excise Tax Rates

by Mike Godfrey, Tax-News.com, Washington

Thursday, November 6, 2014

Governor Alejandro García Padilla has sent a bill to the Puerto Rican legislature that would reduce by ten percent the excise tax applicable to motor vehicles. Read Full Story

 


Puerto Rico To Introduce Tax Reform In 2015

by Mike Godfrey, Tax-News.com, Washington

Tuesday, November 4, 2014

Puerto Rico's Department of the Treasury has disclosed the framework of the tax reforms that are proposed to be introduced during the first quarter of next year, together with a proposed increase in the excise tax charged on crude oil that would bolster the Island's Highways and Transportation Authority. Read Full Story

 

 

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