Mrs. Carballo focuses her practice on complex corporate tax matters, including startup operations, inbound and outbound corporate reorganizations, acquisitions, financings, exit strategies, legislative affairs, and competent authority proceedings between the Puerto Rico Treasury Department and the Internal Revenue Service. She also works with the sales and use tax and the value added tax.
A substantial part of her practice is devoted to tax minimization strategies through Puerto Rico's various tax incentives programs, including industrial tax exemption, municipal incentives, export services exemption under Act 20-2012, and individual investors exemption under Act 22-2012. Many of her clients are global manufacturing companies in the pharmaceutical, medical devices and electronics sectors, as well as major retail companies, e-commerce companies and high net worth individuals.
Mrs. Carballo, who is ranked as one of Puerto Rico’s Leading Attorneys in the Tax field by the renowned international publication Chambers & Partners in its Latin America Guide, has extensive practical experience handing government tax audits for clients, as well as negotiating closing agreements and requests for rulings on various tax matters with the Puerto Rico Treasury Department.
Together with other members of the legal and accounting profession, she commented on and proposed changes to the bills which eventually became the Puerto Rico Tax Reform Act of 1987, the Puerto Rico Tax Reform Act of 2015, and the Excise Tax Act of the Commonwealth of Puerto Rico of 1987. Mrs. Carballo spearheaded various amendments to Puerto Rico’s industrial tax incentives acts of 1998 and 2008.
She is the author of various tax articles, including "Economic Incentives for the Development of Puerto Rico Act: The Last Frontier in Tax Incentives Legislation," which was published in the June 2009 edition of the Journal of Multi State Taxation and Incentives, and of "Puerto Rico's Subchapter N Eliminates Double Taxation," and "Puerto Rico Offers Tax Exemption for Services to Foreign Markets," which were published in the Journal of International Taxation.
She has also been a lecturer in various corporate tax seminars sponsored by the Puerto Rico Manufacturers Association.
Mrs. Carballo is a member of the Columbia University Alumni Association of Puerto Rico, as well as a member and past President of the Princeton University Alumni Association of Puerto Rico. She served as Chairperson of Princeton University’s Schools Committee in Puerto Rico, and as a member of Princeton University’s National Schools Committee. She has also served as member of the Board of Directors of various manufacturing corporations in Puerto Rico.
News & Publications
- July 14, 2016
- June 7, 2016
- Twenty-six McV Attorneys Recognized in Chambers & Partners Latin America GuideJune 22, 2015
- McV serves as local counsel in Liberty Global’s acquisition of Choice Cable TVDecember 10, 2014
- December 1, 2014
- Tax Co-Chairs AppointedAugust 5, 2014
- An McV Tax AlertApril 19, 2017
- An McV Government Affairs AlertMarch 22, 2017
- An McV Tax AlertMarch 21, 2017
- An McV Tax Exemption AlertMarch 17, 2017
- An McV Government Affairs and Tax AlertMarch 8, 2017
- An McV Government Affairs and Bankruptcy & Debt Restructuring AlertJanuary 30, 2017
- An McV Tax AlertJanuary 9, 2017
- An McV Tax AlertOctober 26, 2016
- An McV Tax AlertOctober 5, 2016
- An McV Tax AlertOctober 4, 2016
- An McV Tax AlertJune 15, 2016
- PR Treasury Issues Guidance for Requesting an Additional Extension of the 6% SUT for Pre-Existing AgreementsAn McV Tax AlertJune 13, 2016
- An McV Tax AlertJune 3, 2016
- May 6, 2016
- Fifth Round of Amendments Easing Cuba Sanctions Regulations Issued Prior to President Obama’s Historic Trip to CubaMarch 16, 2016
- March 8, 2016
- March 1, 2016
- Amendments Ease Financing Rules on Exports and Further Facilitate Travel to CubaJanuary 28, 2016
- January 7, 2016
- Cuba Practice Team, September 21, 2015
- Tax Litigation, September 9, 2015
- Cuba Practice Team, July 1, 2015
- Cuba Practice Team, January 15, 2015
- Tax & Retail, January 12, 2015
Member, Business Development Committee
- Commonwealth of Puerto Rico
- U.S. Court of Appeals 1st Circuit
B.A., Cum Laude, Woodrow Wilson School of Public and International Affairs, Princeton University
- Concentration: Economics
J.D., Columbia Law School
American Bar Association, Tax Section
Hispanic National Bar Association
Puerto Rico Manufacturer's Association, Tax Section