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Insights Navigating tariffs: Maintaining mid-market resilience amid ongoing uncertainty.
Navigating tariffs : Maintaining mid-market resilience amid ongoing uncertainty. At the close of 2024, mid-market businesses were riding a steady wave of optimism. According to Grant Thornton's International Business Report (IBR) research 54.6% of mid-market firms planned to increase their exports, with a similarly strong 50.3% expecting revenue growth from international markets. However, as we entered 2025 trade tensions escalated, with optimism experiencing its first notable dip in two years (down 2.9pp to 72.7%). Despite these early signs of caution emerging among mid-market leaders though, the underlying fundamentals – rooted in agility and strategic foresight – remained relatively robust.
4 min read | 31 Mar 2025
Tax Considerations for Mergers and Acquisitions
Tax Insight Tax Considerations for Mergers and Acquisitions
In the pursuit of business expansion, businesses have a wide array of options when deciding their approach on how to achieve their goals. Mergers and acquisitions (“M&A”) offer the opportunity to rapidly expand business operations while decreasing the risks associated with starting a new operation or expanding from scratch. However, M&As are not immune to tax implications for the parties involved in the transaction. As such, when considering M&A transactions, it is important to evaluate all of its implications in order to determine which type of deal is right for you. This article provides a summary of important key points that should be pondered when conducting M&A transactions.
5 min read | 30 May 2025
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2025 Tax Calendar 2025 Tax Calendar
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.
23 Jan 2025
Trending articles
Tax Insight Tax Considerations for Mergers and Acquisitions
5 min read | 30 May 2025
Tax Insight Do I need a Transfer Pricing Study to file my entity’s tax return?
3 min read | 30 Apr 2025
Tax Insight Sales and Use Tax: The impact of manufacturer's rebates and treatment of warranties
9 min read | 31 Oct 2024
Tax Insight A Deep Dive into Puerto Rico's Excise Taxes
3 min read | 07 Aug 2024
Our latest insights
Manage the business risks behind cybersecurity
Advisory Article Manage the business risks behind cybersecurity
You didn’t go into business to manage cybersecurity. Still, your business needs to manage cybersecurity if it manages data — and almost every business manages data.
Marta E. Rodríguez
Neysha Otero
Jorge Paredes
Jorge Oquendo
| 2 min read | 21 Jun 2022
Business Economic Activity as a proposed new parameter of a Municipality's tax jurisdiction
Tax Article Business Economic Activity as a proposed new parameter of a Municipality's tax jurisdiction
Taxpayers engaged in trade or business within the jurisdiction of a Puerto Rico municipality, providing any services for profit, selling any goods, or performing any type of business; are generally subject to the payment of municipal license taxes.
Francisco Luis, CPA, Esq.
Isabel Hernández
| 9 min read | 15 Jun 2022
FASB eliminates TDR accounting for lenders while enhancing disclosures
Audit Article FASB eliminates TDR accounting for lenders while enhancing disclosures
In response to feedback received as part of its post-implementation review of ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (referred to as the current expected credit loss (CECL) standard), the FASB recently issued ASU 2022-02, which eliminates the accounting guidance for troubled debt restructurings (TDRs) by creditors in ASC 310-40, Receivables – Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for restructurings involving borrowers that are experiencing financial difficulty.
Johanna Pérez
Johanna Pérez
| 8 min read | 20 May 2022
Updates for the Opportunity Zones program are on the horizon
Tax Article Updates for the Opportunity Zones program are on the horizon
As the Opportunity Zones program’s needs evolve, new US legislation is underway to meet the program’s intended results and unleash the full potential for economic development that the Opportunity Zone Program can provide to communities.
Francisco Luis, CPA, Esq.
Isabel Hernández
| 6 min read | 12 May 2022
Sales and Use Tax Exemption on articles for the preparation for the hurricane season
Tax Alert Sales and Use Tax Exemption on articles for the preparation for the hurricane season
On May 6, 2022, the Governor of Puerto Rico signed Act 20, 2022. Act 20, 2022 provides an exemption from the Sales and Use Tax (SUT) during the last weekend of May, for the articles and equipment used by the population for the preparation for the hurricane season.
Francisco Luis, CPA, Esq.
Isabel Hernández
| 3 min read | 11 May 2022
Effective dates of FASB ASUs
Audit Article Effective dates of FASB ASUs
Accounting pronouncements issued as of March 31, 2022.
Johanna Pérez
Johanna Pérez
| 1 min read | 21 Apr 2022
Are you looking to start a business in Puerto Rico?
Tax Article Are you looking to start a business in Puerto Rico?
Read this to know what to do and where to file.
Francisco Luis, CPA, Esq.
Isabel Hernández
| 9 min read | 18 Apr 2022
Upgrade your data governance
Advisory Article Upgrade your data governance
To effectively use and control data, businesses need effective data governance. The journey to effective data governance requires each business to identify its unique considerations, roles and rules that inform its principles of value and security.
Marta E. Rodríguez
Neysha Otero
Jorge Paredes
Jorge Oquendo
| 6 min read | 18 Apr 2022
AICPA standard on employee benefit plans now effective
Audit Article AICPA standard on employee benefit plans now effective
In July 2019, the AICPA’s Auditing Standards Board published Statement on Auditing Standards 136, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA, which was originally effective for audits of financial statements issued by employee benefit plans subject to ERISA of 1974 for periods ending on or after Dec. 15, 2020.
Johanna Pérez
Johanna Pérez
| 6 min read | 29 Mar 2022
Key Tax Credits Available on the 2021 Puerto Rico Individual Income Tax Return
Tax Article Key Tax Credits Available on the 2021 Puerto Rico Individual Income Tax Return
There have been significant changes regarding the tax credits available for taxpayers for tax year 2021.
Francisco Luis, CPA, Esq.
Isabel Hernández
| 10 min read | 22 Mar 2022
Who will mind the models?
Advisory Article Who will mind the models?
Strategies for Deploying Model Risk Management.
Marta E. Rodríguez
Neysha Otero
Jorge Paredes
Jorge Oquendo
| 4 min read | 18 Mar 2022
Increase preparedness for Cybersecurity attacks
Advisory Alert Increase preparedness for Cybersecurity attacks
In the recent events between Ukraine and Russia, the government and private organizations observed an increase in cybersecurity attacks that has been mostly used to target organizations in Ukraine and that may spread to other countries.
Marta E. Rodríguez
Jorge Paredes
| 2 min read | 10 Mar 2022
The smart approach to intelligent automation
Advisory Article The smart approach to intelligent automation
As organizations streamline and adapt, the once-distant promise of business automation is delivering real results and defining tomorrow’s top competitors.
Marta E. Rodríguez
Neysha Otero
Jorge Paredes
Jorge Oquendo
| 2 min read | 14 Feb 2022
A second look at the Incentives Code
Tax Article A second look at the Incentives Code
It’s been more than 2 years since the enactment of the Incentives Code in Puerto Rico, approved on July 1, 2019 (“Act” or “Code”).
Francisco Luis, CPA, Esq.
Isabel Hernández
| 4 min read | 11 Feb 2022
How internal audit can fortify cybersecurity
Advisory Article How internal audit can fortify cybersecurity
When you’re trying to stay a step ahead of ransomware attackers, adjusting your organization’s cybersecurity profile can start to seem like an endless game of whack-a-mole.
Marta E. Rodríguez
Neysha Otero
Jorge Paredes
Jorge Oquendo
| 4 min read | 25 Jan 2022
CRIM Amnesty Program
Tax Article CRIM Amnesty Program
Real property tax debtors have been granted an amnesty to pay certain debts on or before June 30, 2022, at a discount.
Francisco Luis, CPA, Esq.
Isabel Hernández
| 2 min read | 25 Jan 2022
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