Client Alerts 
VALUE ADDED TAX PROPOSAL
TAX ALERT - On February 11, 2015, the Puerto Rico House of Representatives filed House Bill No. 2329 (the “Bill”) which proposes to enact a new Internal Revenue Code of 2015 and provides transitory provisions to repeal the Internal Revenue Code of 2011, as amended (the “2011 Code”).
PUERTO RICO’S RECOVERY ACT DECLARED UNCONSTITUTIONAL BY THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF PUERTO RICO
The United States District Court for the District of Puerto Rico (the “Court”) issued an Opinion and Order on Friday February 6, 2015 declaring that the Puerto Rico Public Corporation Debt Enforcement and Recovery Act (the “Recovery Act”) is unconstitutional.
2013 IN REVIEW: KEY PUERTO RICO DECISIONS FOR INSOLVENCY PROFESSIONALS
BANKRUPTCY, INSOLVENCY AND REORGANIZATION GROUP LEGAL ALERT 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.
TAX PREPAYMENT AND REDUCED RATES FOR RETIREMENT FUNDS
Act No. 77 of 2014 (“Act 77”) amends the Puerto Rico Internal Revenue Code of 2011 (the “PR Tax Code”) to, among other things, allow for the prepayment at a reduced tax rate of the income accumulated in certain retirement assets. The election for the prepayment is available from July 1, 2014 to October 31, 2014 (the “Prepayment Window Period”).
Client Alerts
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VALUE ADDED TAX PROPOSAL
TAX ALERT - On February 11, 2015, the Puerto Rico House of Representatives filed House Bill No. 2329 (the “Bill”) which proposes to enact a new Internal Revenue Code of 2015 and provides transitory provisions to repeal the Internal Revenue Code of 2011, as amended (the “2011 Code”).
PUERTO RICO’S RECOVERY ACT DECLARED UNCONSTITUTIONAL BY THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF PUERTO RICO
The United States District Court for the District of Puerto Rico (the “Court”) issued an Opinion and Order on Friday February 6, 2015 declaring that the Puerto Rico Public Corporation Debt Enforcement and Recovery Act (the “Recovery Act”) is unconstitutional.
2013 IN REVIEW: KEY PUERTO RICO DECISIONS FOR INSOLVENCY PROFESSIONALS
BANKRUPTCY, INSOLVENCY AND REORGANIZATION GROUP LEGAL ALERT 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.
TAX PREPAYMENT AND REDUCED RATES FOR RETIREMENT FUNDS
Act No. 77 of 2014 (“Act 77”) amends the Puerto Rico Internal Revenue Code of 2011 (the “PR Tax Code”) to, among other things, allow for the prepayment at a reduced tax rate of the income accumulated in certain retirement assets. The election for the prepayment is available from July 1, 2014 to October 31, 2014 (the “Prepayment Window Period”).
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