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.
Tax incentives for the film and creative industries in Puerto Rico: exploring the benefits for businesses in the creative sectors. Puerto Rico has been a favorite destination for filmmakers, artists, and creative entrepreneurs, because of its dynamic culture, beautiful scenery and advantageous position. The creative industries serve as an economic embodiment of culture, highlighting Puerto Rico’s exceptional quality of life both locally and internationally. The enactment of Act 60-2019, known as the Puerto Rico Incentives Code, has firmly established the island as a global hub for film production, digital media, and other creative industries. This comprehensive tax incentive law is a game-changer, offering producers, filmmakers, and other creatives significant economic advantages to bring their projects to life.
Our 2025 Women in Business report explores the external pressures and internal drivers that impact gender diversity in leadership teams in the mid-market.
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.
Did you know that the government of Puerto Rico has implemented various tax breaks and incentives to encourage businesses to go green? These offer a series of financial benefits to businesses that incorporate sustainable and eco-friendly practices into their operations. This article will provide you with knowledge about the incentives and what benefits they offer to businesses.
Choosing the right business structure is one of the most important decisions any entrepreneur or business owner needs to make. This decision will not only affect the daily operations of the business but will also have a direct impact on how income, deductions, and overall tax obligations are treated. In Puerto Rico, the tax laws are unique and while there are similarities with the federal tax regulations in the United States, they have distinctive characteristics that can significantly influence your tax situation.
As the new tax season is starting, we would like to remind you that if you made gifts during 2024, you may be required to report them on a gift tax return. For Puerto Rico purposes, generally, any person who makes a reportable gift over ten thousand dollars ($10,000) per donee must file an Informative Gift Tax Return on or before January 31 of the year following the gift. A three-month automatic extension is available, and if the donor is outside of Puerto Rico, an extension may be granted for up to six months.
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.
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 individuals, businesses, and sales and use tax considerations.
Exploring the sustainability journey for the mid-market and what's driving these organisations to take action.
In Puerto Rico, the treatment of manufacturer’s rebates and warranties affects the sales price of tangible personal property and its corresponding Sales and Use Tax (“SUT”). Despite the fact that the Puerto Rico Treasury Department published guidance on this matter, sellers and buyers had different views on how to treat the rebates and warranties when computing the sales price of a transaction, which in turn resulted in discrepancies over the accuracy of the seller's SUT calculation.
In today's rapidly evolving global economy, businesses must continuously innovate and update their technology, products, and services to stay competitive. Research and Development (R&D) is critical in this process, driving innovation and enhancing the companies’ offerings. These activities stimulate competition, promote economic growth, and create a healthier business environment.
Firms need to make a determined and conscious effort to address the leadership pipeline to mitigate against the harm of gender-biased future tech.
Our energy leaders from the Grant Thornton network discuss the latest International Business Report and how businesses in their countries are considering energy costs.
Excise taxes play a fundamental role in Puerto Rico's fiscal policy, impacting both individuals and businesses across various sectors. Understanding the complexities of these taxes, along with available exemptions and strategic management approaches, is essential for maintaining compliance and optimizing financial strategies. Excise taxes in Puerto Rico are specific taxes imposed on the sale, use, consumption, importation, or manufacture of certain goods. They are different from income taxes and sales and use taxes, focusing on targeted items. These items are detailed in Sections 3020.01 through 3020.12 of Subtitle C, Chapter 2. of the Puerto Rico Internal Revenue Code of 2011, as amended, (“PR Tax Code”). All sections cited below are in relation to the PR Tax Code.
Women’s leadership in senior positions can impact the commercial performance of mid-market businesses including profit expectations.
On May 11, 2021, the Puerto Rico Treasury Department issued Administrative Determination No. 21-05 and determined that, for taxable years that begin after December 31, 2018, taxpayers will be able to deduct 100% of the expenses incurred or paid to stockholders, related persons or entities not engaged in trade or business in Puerto Rico, as long as the expenses are based on a Transfer Pricing Study that has been issued and is available at the time of filing the tax return. This article will provide you with an explanation of what exactly is transfer pricing, and how a Transfer Pricing Study may benefit your business.
