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Publications Archive

  • 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    Automatic Release of Imports Repealed for Non-Bonded Importers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

  • Technical Amendments to the Puerto Rico Internal Revenue Code of 2011
    December 23, 2014

    Technical Amendments to the Puerto Rico Internal Revenue Code of 2011

  • Alternate Procedure for Filing Supplemental Information for Taxable Year 2013
    December 18, 2014

    Puerto Rico Department of the Treasury issues Administrative Determination 14-28

  • PR Treasury Announces 2015 Retirement Plan Limitations
    December 18, 2014

    Puerto Rico Treasury issues Circular Letter of Tax Policy No.14-05 notifying the cost-of-living adjustments announced by the IRS for taxable year 2015.

  • Windsor Amendments Deadline Approaching
    December 3, 2014

    Puerto Rico Qualified Plans Must be Amended on or before December 31, 2014, to comply with the Post Windsor Requirements.

  • Existence of Private Residential Roads Recognized under Puerto Rico Law
    December 1, 2014

    Puerto Rico Supreme Court Recognizes the Existence of Private Residential Roads under Puerto Rico Law

  • New Private Equity Funds Act Enacted
    November 21, 2014

    Senate Bill No. 862  becomes Act. No. 185, the new Private Equity Funds Act.

  • Municipal License Tax Amnesty Approved by the Municipality of San Juan
    November 18, 2014

    The Municipality of San Juan implements municipal license tax amnesty.

  • Automatic Release of Imports Repealed
    November 17, 2014

    PR Department of Treasury  issues Administrative Determination No. 14-27

  • Electronic Remittance of the 2% Special Charge on Money Transfers
    November 12, 2014

    Puerto Rico Treasury Department issues additional guidance regarding the remittance options with of  the 2% Special Charge on eligible money transfer transactions.

  • Act 174 Extends Incentive Plan on Amounts owed by Employers
    October 23, 2014

    Act 174 Extends Incentive Plan on Amounts owed by Employers

  • Renewal Reminder: Reseller and Municipal Sales and Use Tax Exemption Certificates
    October 23, 2014

    Renewal Reminder: Reseller and Municipal Sales and Use Tax Exemption Certificates

  • PR Treasury Publishes AD 14-26
    October 21, 2014

    PR Treasury Postpones Enforcement of 2% Charge on Money Transfers

  • PR Treasury Issues AD 14-25
    October 20, 2014

    PR Treasury issues guidance with respect to municipal sales and use tax returns

  • Names of certain forms amended
    October 9, 2014

    PR Treasury issues Tax Policy Informative Bulletin No. 14-02 informing name change for certain forms. 

  • Acts 160 and 169
    October 7, 2014

    Acts 160 and 169: Two new laws that significantly affect Employment Law in Puerto Rico

  • PR Treasury issues Circular Letter of Tax Policy No.14-02
    October 1, 2014

    Additional Guidelines Regarding Tax Prepayment on Retirement Plans Accrued Balances

  • Carlos Fernández-Lugo interviewed and quoted by Latin America Advisor
    September 2014

    Carlos Fernández-Lugo interviewed and quoted by Latin America Advisor, Inter-American Dialogue's newsletter.

  • PR Treasury Issues AD 14-24
    September 22, 2014

    Paper format returns allowed as alternative method for filing the monthly sales and use tax returns

  • Puerto Rico Department of the Treasury publishes AD 14-23
    September 19, 2014

    Puerto Rico Department of the Treasury eliminates the requirement of uploading certain information required by Administrative Determination 14-20.

  • Puerto Rico Department of the Treasury publishes AD 14-22
    September 11, 2014

    Administrative Determination 14-22 extends various due dates related to the reporting and payment of the sales and use tax.

  • Further guidance on the filing and payment of the Sales and Use Tax
    September 3, 2014

    Administrative Determinations 14-19 and 14-20 offer further guidance on the filing and payment of the Sales and Use Tax

  • IRS Revenue Ruling 2014-24
    September 2, 2014

    Investment by Puerto Rico Qualified Retirement Plans and Insurance Company Separate Accounts in “81-100 Group Trusts”

  • Supplemental Information to Financial Statements Postponed for Taxable Year 2013
    August 21, 2014

    Puerto Rico Treasury Department issues AD 14-17 to inform about the new Supplemental Information of the Audited Financial Statements Filing System and to extend the due date for submitting the Supplemental Information.

  • Tax Prepayment on Accrued Value of Retirement Plan Benefits
    August 11, 2014

    Circular Letter 14-16 Provides Guidance Regarding Tax Prepayment on Accrued Value of Retirement Plan Benefits

  • Guidance and temporary procedure for the filing and payment of the use tax on imported articles
    August 7, 2014

    Puerto Rico Treasury Department issues guidance and a temporary procedure for the filing and payment of the use tax on imported articles

  • Puerto Rico Treasury issues important Administrative Determination and Circular Letters
    July 21, 2014

    PR Treasury issues guidance on new sales and use tax rules, extends validity of reseller and municipal sales and use tax exemption certificates, introduces PICO and re-launches SISCON

  • Sales Tax Provisions Amended
    July 11, 2014

    Act 80-2014 Amends Sales Tax Provisions of the Puerto Rico Internal Revenue Code of 2011

  • Act 77-2014 signed into law
    July 3, 2014

    Act 77-2014 amends the Puerto Rico Internal Revenue Code of 2011, the Economic Incentives for the Development of Puerto Rico Act, the Green Energy Incentives Act and the Games of Chance Act.

  • PR Treasury Issues Circular Letter 14-03
    July 3, 2014

    Circular Letter 14-03 provides guidance for requesting use tax bonded importer status

  • Sales Tax Holidays for Uniforms and School Supplies Announced
    July 1, 2014

    Circular Letter No. 14-02 establishes sales tax holidays for uniforms and school supplies and details items to be exempt from sales and use tax.

  • Local “Bankruptcy” Law for Debt-Restructuring of State-Owned Corporations Signed
    June 29, 2014

    Local “Bankruptcy” Law for Debt-Restructuring of State-Owned Corporations Signed; First Lawsuit Challenging the Statute Filed in Federal Court.

  • Governor of Puerto Rico Files Bill for Restructuring Debt of Public Corporations
    June 25, 2014

    Governor of Puerto Rico announces filing of a bill that, if becomes law, will be titled: “the Puerto Rico Public Corporation Debt Enforcement and Recovery Act.”

  • House Bill 2041 proposes changes to sales and use tax
    June 19, 2014

    HB 2041 seeks to postpone effectiveness of the use tax on imported inventory and  includes changes to the sales and use tax

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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