Publications Archive

  • PR Supreme Court Holding Regarding Municipal Authority to Impose Municipal License Tax

    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

    Automatic Release of Imports Repealed for Non-Bonded Importers

  • Act 44-2015

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

  • Incentives Act for the Payment of Taxes Prior to the Tax Transformation

    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

    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

    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

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

  • Puerto Rico Energy Commission adopts Regulation No. 8543

    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

    The Act to Transform Puerto Rico's Tax System

  • Puerto Rico Public Corporation Debt Enforcement and Recovery Act Unconstitutional

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

  • 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

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

  • Electronic Payments of Estimated Personal Property Tax

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

  • Environmental,

    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,

    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 2015 Tax Free Holiday Reminder

  • Act. No. 238

    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

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

  • Technical Amendments to the Puerto Rico Internal Revenue Code of 2011

    Technical Amendments to the Puerto Rico Internal Revenue Code of 2011

  • Alternate Procedure for Filing Supplemental Information for Taxable Year 2013

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

  • PR Treasury Announces 2015 Retirement Plan Limitations

    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

    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

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

  • New Private Equity Funds Act Enacted

    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

    The Municipality of San Juan implements municipal license tax amnesty.

  • Automatic Release of Imports Repealed

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

  • Electronic Remittance of the 2% Special Charge on Money Transfers

    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

    Act 174 Extends Incentive Plan on Amounts owed by Employers

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

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

  • PR Treasury Publishes AD 14-26

    PR Treasury Postpones Enforcement of 2% Charge on Money Transfers

  • PR Treasury Issues AD 14-25

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

  • Names of certain forms amended

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

  • Acts 160 and 169

    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

    Additional Guidelines Regarding Tax Prepayment on Retirement Plans Accrued Balances

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

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

  • PR Treasury Issues AD 14-24

    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

    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

    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

    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

    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

    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

    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

    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

    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

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

  • Act 77-2014 signed into law

    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

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

  • Sales Tax Holidays for Uniforms and School Supplies Announced

    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

    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

    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.”

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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