Puerto Rico's Department of the Treasury has initiated a Public Consultation on the Implementation of the Pillar Two GloBE Rules in Puerto Rico, set to conclude on 10 October 2024. Pillar Two ensures that particular taxpayers are subject to a

Puerto Rico’s Department of State announced on 12 August 2024, that it extended the deadline for filing the 2023 annual report  with audited financial statements to those corporations or legal entities that accepted the second extension to

Puerto Rican organisation Espacios Abiertos (Open Spaces) has released a report that quantifies and analyses the effect of the 15% global minimum tax (GMT) and the opportunities and risks that it represents for Puerto Rico. The study also discusses

Puerto Rico's Treasury Department released a new income tax return for businesses that earn income under various tax exemption incentive decrees. Previously, different tax return forms were needed depending on specific tax exemptions, which included

On 6 February 2023, Mr. Pedro Pierluisi, Governor of Puerto Rico unveiled a set of proposals aimed at enhancing and streamlining Puerto Rico's tax system. The proposals include reducing the tax burden for individuals and corporations by over $500

On 27 September 2022, the Puerto Rico Treasury Department (PRTD) issued Administrative Determination No. 22-08 extending the due date for income tax returns and tax payments due to Hurricane Fiona. The PRTD extends the tax returns deadline until