On June 30, 2026, the Puerto Rico Department of Treasury ("PRTD") issued Internal Revenue Circular Letter No. 26-13 ("IR CL 26-13") to implement one of the most important changes to the SURI platform in recent years, and a significant change in the administration of the Municipal Sales and Use Tax ("Municipal SUT"). Effective with the SUT Monthly Return for July 2026, due on August 20, 2026, the filing and payment of the Municipal SUT for 73 participating municipalities (“Participating Municipalities”) will be integrated into the Unified Internal Revenue System ("SURI").
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The Puerto Rico Treasury Department (PRTD) announced the dates of the back-to-school tax free periods for the fiscal year 2026-2027. During the tax-free period, the uniforms and school materials will be exempt from payment of the Puerto Rico Sales and Use Tax (“SUT”) at the state and municipal levels.
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.
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If you are planning to do business in Puerto Rico, download this guide with information on the legal, accounting and taxation framework to keep you on the right track.
Third party resources, components, and goods are critical for many organizations to deliver consistent and high-quality performance. But it is hard for these organizations to form a complete picture of their third-party risk and compliance exposures, given the complexity of third-party ecosystems and shifting requirements for compliance and reporting.
Foster a culture of communication where everyone is able to contribute, leaders can create organizations robust enough to thrive in 2021 and beyond.
Puerto Rico tax and business incentives to qualifying business operating or considering to operate in the country.
With COVID-19 related lockdowns and travel restrictions persisting in many parts of the world, airline operators, airports, lessors and support businesses are still in a precarious position.
For many businesses, 2020 was a year of turmoil. But for technology firms, it was a year of high growth potential.
For years, flexible working has been high on the agenda for companies looking to promote more women into senior management. With an enforced switch to remote working driven by COVID-19, there has been a seismic shift in attitudes to the potential and challenges of flexible practices. But will these changes become embedded in businesses?
At Kevane Grant Thornton we are fully authorized by Grant Thornton International to provide clients transfer-pricing services independently from other member firms. Transfer pricing refers to the price ascribed to transactions between entities in two different jurisdictions, such as when a parent company in one country sells goods or services to a subsidiary in another country.
Transfer pricing is the No. 1 international tax area of concern to multinationals, tax authorities are reviewing transfer pricing to tackle profit shifts that could be detrimental to the tax revenue of their countries or jurisdictions.
The Internal Revenue Service (IRS) issued the following changes for Social Security and Medicare for the taxable year 2021.
An Unmitigated Disaster: A Global Roundup
During the past decades, technology has revolutionized all aspects of human life, including how business is done. As a result, the virtual currency industry has emerged in such a way that it may also be used to pay for goods or services due to its function as a medium of exchange.
The Puerto Rico Treasury Department has established new guidelines in relation with the file transmission layout for fiscal terminals.
The Puerto Rico Treasury Department has issued Informative Bulletin 19-09 to notify the changes made to Forms 499R-2/W-2PR and Informative Returns for the year 2019.
Meetings with PR and US Government have triggered the need to identify an alternative to the 4% excise tax of Act 154-2010.
In this issue we review the smaller reporting company redefined by the SEC.