Client Alerts 
2013 IN REVIEW: KEY PUERTO RICO DECISIONS FOR INSOLVENCY PROFESSIONALS
Overview During 2013, our federal courts tackled important insolvency and bankruptcy related issues that affect the balance among lenders, individuals, and corporate debtors. This alert summarizes the areas affected by some of these decisions, and the impact on lenders and debtors.
INCENTIVE PLAN FOR THE PAYMENT OF PERSONAL AND REAL PROPERTY TAX DEBTS
The following summarizes the major provisions of the “Ley Ponte al Día en el CRIM: Plan de Incentivo para el Pago de Contribuciones Adeudadas”, Act 145 of December 9, 2013 (the “Act”). This Act establishes an incentive plan or amnesty that provides for the abatement of interest, surcharges and penalties on personal and real property tax debts with the Municipal Revenue Collection Center (the “CRIM”, in Spanish acronym).
TAX ALERT: TAX BURDEN ADJUSTMENT AND REDISTRIBUTION ACT APPROVED
The following summarizes the major provisions of the “Tax Burden Adjustment and Redistribution Act” signed by the Governor of Puerto Rico as Act 40 of June 30, 2013 to generate revenues to cover the Budget deficit for fiscal year 2013-2014 and provide revenues for fiscal years thereafter.
TAX ALERT: JOBS NOW ACT
The Jobs Now Act was signed into law on February 10, 2013. It purports to create jobs within 18 months by eliminating certain hurdles that delay and impede the process of establishing new businesses or expanding existing businesses in Puerto Rico, allow better access to capital, and provide incentives under Agreements between Eligible Businesses and .
Client Alerts
2013 IN REVIEW: KEY PUERTO RICO DECISIONS FOR INSOLVENCY PROFESSIONALS
Overview During 2013, our federal courts tackled important insolvency and bankruptcy related issues that affect the balance among lenders, individuals, and corporate debtors. This alert summarizes the areas affected by some of these decisions, and the impact on lenders and debtors.
INCENTIVE PLAN FOR THE PAYMENT OF PERSONAL AND REAL PROPERTY TAX DEBTS
The following summarizes the major provisions of the “Ley Ponte al Día en el CRIM: Plan de Incentivo para el Pago de Contribuciones Adeudadas”, Act 145 of December 9, 2013 (the “Act”). This Act establishes an incentive plan or amnesty that provides for the abatement of interest, surcharges and penalties on personal and real property tax debts with the Municipal Revenue Collection Center (the “CRIM”, in Spanish acronym).
TAX ALERT: TAX BURDEN ADJUSTMENT AND REDISTRIBUTION ACT APPROVED
The following summarizes the major provisions of the “Tax Burden Adjustment and Redistribution Act” signed by the Governor of Puerto Rico as Act 40 of June 30, 2013 to generate revenues to cover the Budget deficit for fiscal year 2013-2014 and provide revenues for fiscal years thereafter.
TAX ALERT: JOBS NOW ACT
The Jobs Now Act was signed into law on February 10, 2013. It purports to create jobs within 18 months by eliminating certain hurdles that delay and impede the process of establishing new businesses or expanding existing businesses in Puerto Rico, allow better access to capital, and provide incentives under Agreements between Eligible Businesses and .
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