- Electronic Remittance of the 2% Special Charge on Money TransfersNovember 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 EmployersOctober 23, 2014
Act 174 Extends Incentive Plan on Amounts owed by Employers
- Renewal Reminder: Reseller and Municipal Sales and Use Tax Exemption CertificatesOctober 23, 2014
Renewal Reminder: Reseller and Municipal Sales and Use Tax Exemption Certificates
- PR Treasury Publishes AD 14-26October 21, 2014
PR Treasury Postpones Enforcement of 2% Charge on Money Transfers
- PR Treasury Issues AD 14-25October 20, 2014
PR Treasury issues guidance with respect to municipal sales and use tax returns
- Names of certain forms amendedOctober 9, 2014
PR Treasury issues Tax Policy Informative Bulletin No. 14-02 informing name change for certain forms.
- Acts 160 and 169October 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.14-02October 1, 2014
Additional Guidelines Regarding Tax Prepayment on Retirement Plans Accrued Balances
- Carlos Fernández-Lugo interviewed and quoted by Latin America AdvisorSeptember 2014
Carlos Fernández-Lugo interviewed and quoted by Latin America Advisor, Inter-American Dialogue's newsletter.
- PR Treasury Issues AD 14-24September 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 14-23September 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 14-22September 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 TaxSeptember 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 2014-24September 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 2013August 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 BenefitsAugust 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 articlesAugust 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 LettersJuly 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 AmendedJuly 11, 2014
Act 80-2014 Amends Sales Tax Provisions of the Puerto Rico Internal Revenue Code of 2011
- Act 77-2014 signed into lawJuly 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 14-03July 3, 2014
Circular Letter 14-03 provides guidance for requesting use tax bonded importer status
- Sales Tax Holidays for Uniforms and School Supplies AnnouncedJuly 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 SignedJune 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 CorporationsJune 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 taxJune 19, 2014
HB 2041 seeks to postpone effectiveness of the use tax on imported inventory and includes changes to the sales and use tax
- Governor vetoes Senate Bill 501 regarding workplace harassmentJune 16, 2014
Governor Alejandro García Padilla vetoes Senate Bill 501 which would have created the “Act to Prohibit and Prevent Workplace Harassment in Puerto Rico”
- Post-Windsor Amendments to Puerto Rico Qualified PlansJune 10, 2014
Plans qualified only under the Puerto Rico Internal Revenue Code must be amended to recognize same-sex spouses on or before December 31, 2014.
- Postponement of new use tax on inventory proposedJune 9, 2014
PR Treasury proposes postponement of use tax on inventory items until August 1, 2014
- Act for the Transformation and Energy Relief of Puerto Rico signed into LawMay 30, 2014
Governor Alejandro García-Padilla signs into law Act 57 known as the “Act for the Transformation and Energy Relief of Puerto Rico.”
- House Bills 1919 and 1921 proposedMay 27, 2014
House Bills 1919 and 1921 proposed
- Personal Property Tax: Electronic Filing RequiredApril 24, 2014
The Municipal Revenue Collection Center (“CRIM”) notifies qualified taxpayers and certain tax return preparers about their obligation to file the personal property tax return through electronic means.
- Severance pay in connection with a reduction in force not subject to FICAApril 2, 2014
Severance pay in connection with a reduction in force not subject to FICA
- Final Rule for the e-Manifest SystemMarch 26, 2014
Hazardous Waste Electronic Manifest Establishment Act signed into law.
- Underground Storage Tanks Control RegulationMarch 12, 2014
The Puerto Rico Environmental Quality Board issues public notice informing intent to adopt new Underground Storage Tanks Control Regulation.
- New Non-Public Information Required from Corporations and Limited Liability CompaniesMarch 3, 2014
The Puerto Rico Department of State to start compiling new data from entities registered an online ‘Economic Data Survey.’
- Annual Corporate Reports AmnestyFebruary 26, 2014
Temporary amnesty granted for the filing of corporate annual reports due for the periods ending on or before December 31, 2012.
- Legislation UpdateFebruary 25, 2014
Developments concerning House Bill 1626 and the federal minimum wage.
- PR Treasury Announces 2014 Dollar Limitations for Qualified Retirement PlansFebruary 12, 2014
Circular Letter 14-01 notifies cost-of-living adjustments that will apply to retirement plans qualified under the Puerto Rico Internal Revenue Code.
- February 6, 2014
New regulations establish criteria and procedures applicable to requests for partial waiver from gross receipts tax
- Deadline to File Protective Refund ClaimFebruary 5, 2014
Employer’s Deadline to File Protective Refund Claim for 2010 FICA Taxes Paid on Severance Payments
- Governor Alejandro García’s Proposal For Energy ReformFebruary 4, 2014
Four bills proposing to address various key energy-related matters submitted
- Additional Changes to the Sales and Use Tax and its AdministrationFebruary 3, 2014
Acts 18-2014 and 19-2014 became effective February 1, 2014
- Legislation UpdateJanuary 29, 2014
New developments concerning the federal minimum wage and the recently signed Act 15-14.
- Act 151 signed into lawJanuary 13, 2014
Act 151-2013, enacting certain amendments to Act 161-2009, known as the Puerto Rico Permitting Process Reform Act, signed into law.
- Senate Bills 837 and 840January 9, 2014
President of the Senate Hon. Eduardo Bhatia Gautier presents package of bills and resolutions intended to transform the energy sector in Puerto Rico.
- “Effective Mechanisms for Tax Oversight Act” signed into law; administrative determination issued to postpone its effectiveness.December 31, 2013
Act No. 163-2013 amends the Municipal License Tax Act, the Municipal Property Tax Act, the General Corporations Act and the Puerto Rico Internal Revenue Code of 2011.
- Additional Extension to File Request for Waiver for Gross Receipts TaxDecember 30, 2013
Treasury further extends deadline to file request for waiver for Gross Receipts Tax until January 31, 2014 , issues Administrative Determination 13-21.
- New Property Tax AmnestyDecember 16, 2013
Act No. 145-2013 amends the Municipal Property Tax Act of 1991.
- Pro Bono Program AchievementsDecember 9, 2013
McConnell Valdés provides more than 1,700 hours of free legal services during the Firm's 2012-13 fiscal year; associates and paralegals who worked 25 hours or more recognized.
- Personal Property Tax: Quarterly Estimated Payments Required starting August 2014December 9, 2013
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