Since our last Tax Alert about the enactment of Act 159-2015, the PR Treasury Department (“Treasury”) has issued a series of publications to address certain matters related to Sales and Use Taxes (“SUT”). Below we summarize the most relevant aspects of each publication.
On September 30, 2015, the Governor of Puerto Rico signed into law Act 159 of 2015 (“Act 159”) which, in general, contains various amendments both of a technical and non-technical nature to Act 72 of May 29, 2015, commonly known as the “2015 Tax Reform Act” (“Act 72”). The following is a summary of the .
PUERTO RICO GOVERNOR PROPOSES LABOR REFORM On September 9, 2015, the Working Group for the Fiscal and Economic Recovery of Puerto Rico commissioned by Gov. Alejandro García Padilla, released its “Fiscal & Economic Growth Plan” (“FEGP”). The FEGP contains an encompassing blueprint for the local government to follow during the next five years, to reduce staggering .
The PR Treasury Department (“Treasury”) recently issued the Circular Letter of Tax Policy No. 15-12 (the “CL 15-12”) and the Administrative Determination No. 15-17 (the “AD 15-17”) to address certain matters related to the special sales and use tax rate of 4% (the “Special SUT”) to be imposed commencing on October 1st, 2015 on the .
Since our last Tax Alert about the enactment of Act 159-2015, the PR Treasury Department (“Treasury”) has issued a series of publications to address certain matters related to Sales and Use Taxes (“SUT”). Below we summarize the most relevant aspects of each publication.
On September 30, 2015, the Governor of Puerto Rico signed into law Act 159 of 2015 (“Act 159”) which, in general, contains various amendments both of a technical and non-technical nature to Act 72 of May 29, 2015, commonly known as the “2015 Tax Reform Act” (“Act 72”). The following is a summary of the .
PUERTO RICO GOVERNOR PROPOSES LABOR REFORM On September 9, 2015, the Working Group for the Fiscal and Economic Recovery of Puerto Rico commissioned by Gov. Alejandro García Padilla, released its “Fiscal & Economic Growth Plan” (“FEGP”). The FEGP contains an encompassing blueprint for the local government to follow during the next five years, to reduce staggering .
The PR Treasury Department (“Treasury”) recently issued the Circular Letter of Tax Policy No. 15-12 (the “CL 15-12”) and the Administrative Determination No. 15-17 (the “AD 15-17”) to address certain matters related to the special sales and use tax rate of 4% (the “Special SUT”) to be imposed commencing on October 1st, 2015 on the .