This comprehensive tax guide is designed to keep you well-informed about the tax due dates and filing requirements for both Puerto Rico and the United States. It also offers valuable tax insights for businesses, individuals and sales and use tax considerations.
Grant Thornton's Women in Business 2026: The value of visibility report reveals that 91.9% of mid-market leaders say they personally consider a company's gender equality initiatives when applying for roles, with two-thirds calling it a priority.
Mid‑market leaders across the globe are investing in sustainability, but not in the same way – or for the same reasons. North and South America see a route to competitive advantage and capital; Europe is turning regulation into efficiency; Asia‑Pacific ties ESG to innovation and digitalization; while Africa backs foundational energy and water to unlock growth.
The new Puerto Rico Incentives Code, referred to as the “Act”, codifies all the incentives granted throughout decades with the objective of adopting a comprehensive tool of economic development. The Act revokes Acts 20 and 22 of January 17, 2012, as amended, while simultaneously adopting a similar set of incentives, with some changes we discuss below.
On July 1, 2019, the Governor of Puerto Rico converted House Bill 1635 into Act 60-2019, known as the Incentives Code of Puerto Rico (the “Act”). The Act codifies incentives granted for diverse purposes throughout decades with the aim to foster economic development more effectively. The Act adopts a legal and administrative framework for the application, evaluation, and grant or denial of incentives by the Government of Puerto Rico. Some incentives remain unchanged, while others were eliminated or altered to increase the return on public investment.
Organizations should have robust internal control procedures to limit the risk of fraud, and internal audit’s role is to assess these controls.
It is the duty of every employer to insure his/her employees against all work-related injuries, illnesses or death with the Workmen's Compensation Insurance Fund (CFSE).
The Puerto Rico Treasury Department has negotiated with the US Treasury Department to extend the deadline to file the request of the benefit.
5 tips to manage enterprise risk in businesses driven by innovation
Some publications have hinted that blockchain technology might eliminate the need for a financial statement audit by a CPA auditor altogether. If all transactions are captured in an immutable blockchain, then what is left for a CPA auditor to audit?
A study reveals three components of a superior growth strategy and underscores their interdependency.
In this issue we review the role of audit and management in the financial reporting chain.
Innovation strives when faced with no other choice. What can businesses do to overcome economic downturns?
FASB proposes an accounting standard update for Business Combinations.
The Department of the Treasury has established the filing requirements for the Quarterly Return of Tax Withheld on Payments for Service Rendered.
Use CECL user testing to move from compliance to value.
The Puerto Rico Department of Treasury has released Circular Letter 19-08 establishing the filing deadlines for certain corporation income tax returns.
The Puerto Rico Department of Treasury has released Circular Letter 19-06 stating new guidance for individuals, corporations and LLCs on the filing of automatic extensions for income tax returns.
The FASB recently issued ASU 2018-20, Leases (Topic 842): Narrow Scope Improvements for Lessors, which simplifies how lessors implement the new leasing guidance in ASC 842, Leases.
