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Publications Archive

  • January 7, 2016

    Administrative Determination 15-25 provides guidance on sales and use tax reporting; Administrative Determination 15-26 establishes effective date for VAT provisions.

  • January 4, 2016

    Circular Letter of Tax Policy 15-16 notifies the cost-of-living adjustments announced by the IRS for taxable year 2016 that will apply to retirement plans qualified under the provisions of Section 1081.01 of the Puerto Rico Internal Revenue Code of 2011.

  • December 3, 2015

    For the second time this year, McV attorneys Antonio Escudero-Viera, Miguel Rivera-Arce and Lillian Toro-Mojica will offer a series of talks on legal topics relevant to nonprofit organizations that have recently received grants from the Fundación Angel Ramos.

  • Retail Consumer Laws, November 30, 2015

    On October 30, 2015, Governor Alejandro García Padilla signed an Executive Order banning the use of plastic bags as part of his commitment to the conservation of natural resources. The effective date of the prohibition is July 1, 2016.

  • Government Affairs, October 21, 2015

    We summarize the most important aspects of Legislature House Bill 2718 and Senate Bill 1513, which create the Board for the Financial Supervision and Economic Recovery of Puerto Rico and approve a 5-year consolidated Economic and Fiscal Growth Plan.

  • Cuba Practice Team, September 21, 2015

    New amendments will further ease sanctions related to travel, telecommunications and internet-based services, business operations in Cuba, and remittances.

  • Environmental, September 15, 2015

    DNER Reschedules Public Hearings and Extends Comment Period for the Proposed Amendments to the Maritime Terrestrial Zone Regulation

  • Tax Litigation, September 9, 2015

    Puerto Rico Supreme Court Clarifies Jurisdictional Payment Requirement
    to Challenge Real Property Tax

  • PR Treasury Issues New Guidance on Sales and Use Tax Applicable to Services
    September 2, 2015

    Puerto Rico Treasury Issues New Guidance on Sales and Use Tax Applicable to Services

  • DNER Proposes Amendments to Maritime Terrestrial Zone Regulation
    August 26, 2015

    DNER Proposes Amendments to Maritime Terrestrial Zone Regulation

  • Public Participation in the Review Process of PREPA’s Integrated Resource Plan
    August 26, 2015

    Public Participation in the Review Process of PREPA’s Integrated Resource Plan

  • August 10, 2015

    Puerto Rico Energy Commission Promulgates Regulation on Rate Filing Requirements for Puerto Rico Electric Power Authority    

  • Paper Format Returns No Longer Available for Sales and Use Tax Reporting
    August 3, 2015

    Puerto Rico Department of the Treasury issues Administrative Determination 15-14

  • U.S. Department of Labor’s Wage and Hour Division issues Administrator’s Interpretation 2015-1
    July 20, 2015

    U.S. Department of Labor’s Wage and Hour Division  issues Administrator’s Interpretation 2015-1

  • PREC Regulation
    July 16, 2015

    PR Energy Commission Promulgates Regulation on Certifications, Annual
    Fees and Operational Plans for Electrical Service Companies

  • Municipality of Carolina Grants Amnesty for Certain Municipal Taxes
    July 14, 2015

    Municipality of Carolina Grants Amnesty for Certain Municipal Taxes

  • U.S. Court of Appeals Upholds Ruling Invalidating Puerto Rico Recovery Act
    July 7, 2015

    U.S. Court of Appeals Upholds Ruling Invalidating Puerto Rico Recovery Act

  • Cuba Practice Team, July 1, 2015

    U.S. and Cuba announce reopening of embassies in Havana and Washington, D.C.

  • Update Regulations for Exempt Employees Announced
    July 1, 2015

    President Obama Announces Notice of Proposed Rulemaking to Update Regulations for Exempt Employees

  • Recent Legislation Affecting the Labor & Employment Law Area
    June 30, 2015

    Recent Legislation Affecting the Labor & Employment Law Area

  • Treasury Issues Guidelines on Returns of Taxable Items and Pre-Existing Agreements
    June 26, 2015

    Treasury Issues Guidelines on Returns of Taxable Items and Pre-Existing Agreements

  • DACO Issues New Advertising Regulation
    June 25, 2015

    DACO Issues New Advertising Regulation

  • Increase to Use Tax Bonds due to the enactment of Act 72-2015
    June 15, 2015

    Increase to Use Tax Bonds due to the enactment of Act 72-2015

  • DACO Issues New Regulation
    June 11, 2015

    DACO Issues New Regulation

  • USEPA Issues Revised Multi-Sector General Permit
    June 8, 2015

    USEPA Issues Revised Multi-Sector General Permit

  • Act 72 Amends the Puerto Rico Internal Revenue Code of 2011
    June 3, 2015

    Summary of the most significant provisions of the Act modifying current statutory provisions dealing with individual and corporate income taxes. 

  • Act 72 Amends the Puerto Rico Internal Revenue Code of 2011 - Part II
    June 3, 2015

    Summary of  the most significant provisions of the Act amending the sales and use tax provisions of Subtitle D of the Code, and adding a new Subtitle DD to the Code to include the value added tax provisions.

  • Tax Free Holidays Announced
    June 2, 2015

    Sales tax holidays for uniforms and school supplies announced.

  • Tax Reform House Bill 2482 Alert #3
    May 22, 2015

    This Alert updates our Tax Alerts of May 20 and 21, 2015 regarding House Bill 2482

  • Tax Reform House Bill 2482 Alert #2
    May 21, 2015

    This is the second Tax Alert on the recently unveiled House Bill 2482 to amend the Puerto Rico Internal Revenue Code of 2011.

  • Tax Reform House Bill 2482
    May 20, 2015

    House Bill 2482  introduced in the Puerto Rico Legislature in an effort to reach a consensus to raise revenues and obtain a balanced budget for fiscal year 2015-2016.

  • Procedure to Benefit from the Tax Amnesty
    May 14, 2015

    Procedure to Benefit from the Tax Amnesty

  • PR Supreme Court Holding Regarding Municipal Authority to Impose Municipal License Tax
    May 13, 2015

    Recent Puerto Rico Supreme Court Holding Regarding the Municipal Authority to Impose Municipal License Tax.

  • Puerto Rico Department of Treasury issues Administrative Determination 15-05
    April 6, 2015

    Automatic Release of Imports Repealed for Non-Bonded Importers

  • Act 44-2015
    April 1, 2015

    Act 44-2015 Implements an Incentives Plan for the Payment of Taxes

  • Incentives Act for the Payment of Taxes Prior to the Tax Transformation
    April 1, 2015

    Additional Period of Time to Pay or Prepay Income Taxes: Retirement Plans, Individual Retirement Accounts and Education Contribution Accounts

  • Puerto Rico and Dominican Republic Formalize Commercial Agreements
    February 23, 2015

    Agreements designed to foster closer and more productive relations between Puerto Rico and the Dominican Republic reached.

  • The Act to Transform Puerto Rico's Tax System: Individual and Corporate Income Tax
    February 18, 2015

    Summary of the most significant provisions of the bill modifying current statutory provisions dealing with individual and corporate income tax.

  • The Act to Transform Puerto Rico's Tax System: Conduit Entities
    February 13, 2015

    Summary of the most significant provisions of the Code dealing with “conduit entities.”

  • Puerto Rico Energy Commission adopts Regulation No. 8543
    February 13, 2015

    Puerto Rico Energy Commission Promulgates Regulation for Adjudicative
    Procedures, Non-Compliance Notices, Investigations and Rates Review

  • The Act to Transform Puerto Rico's Tax System
    February 12, 2015

    The Act to Transform Puerto Rico's Tax System

  • Puerto Rico Public Corporation Debt Enforcement and Recovery Act Unconstitutional
    February 9, 2015

    Federal Court declares Debt Restructuring Act for Puerto Rico Public Corporations unconstitutional; permanently enjoins government from enforcing it.

  • January 28, 2015

    Reminder: Sponsors of PR Qualified Retirement Plans May Be Required to File with
    PR Treasury by April 15, 2015 any Plan Restatements and Certain Specific
    Amendments to Meet PR Tax Qualification Requirements

  • Interconnection Procedures and Net Metering Standards
    January 27, 2015

    The Puerto Rico Energy Commission  issues Order No. CEPR-MI-2014-0001

  • Electronic Payments of Estimated Personal Property Tax
    January 26, 2015

    The Municipal Revenue Collection Center (“CRIM”) issues Circular Letter No. 2015-01.

  • Environmental, January 19, 2015

    CIFP Act adopts a digital code which will substitute all permits, certification, licenses and the like which must be posted at any premises, industry or commercial establishment.

  • Cuba Practice Team, January 15, 2015

    Beginning January 16, 2015, the United States government will ease Cuba trade and travel restrictions charting a new course in U.S.- Cuba relations.

  • Tax & Retail, January 12, 2015

    January 2015 Tax Free Holiday Reminder

  • Act. No. 238
    December 24, 2014

    Act. No. 238 Extends Tax Prepayment of Accrued Value of Benefits on Retirement
    Plans and IRAs until January 31, 2015

  • Obama Administration Charts a New Course for U.S. - Cuba Relations
    December 23, 2014

    Obama Administration Charts a New Course for U.S. - Cuba Relations

The content of this McV Alert has been prepared for information purposes only. It is not intended as, and does not constitute, either legal advice or solicitation of any prospective client. An attorney-client relationship with McConnell Valdés LLC cannot be formed by reading or responding to this McV Alert. Such a relationship may be formed only by express agreement with McConnell Valdés LLC.

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