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We approach each audit with sharp thought, straight talk and common sense. In addition to verifying that financial results are fairly presented and meet...
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At Kevane Grant Thornton, tax is a key part of our organization and our award-winning teams can offer you a range of solutions, whatever the size of your...
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Individual taxes
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Estate and succession planning
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Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
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Tax incentives program
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Transfer Pricing Study
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
As your business grows, our advisory services are designed to help you achieve your goals. Successful growth often means navigating a complex array of...
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The commercial landscape is changing fast. An ever more regulated environment means organizations today must adopt stringent governance and compliance processes. As business has become global, organizations need to adapt to deal with multi-jurisdictional investigations, litigation, and dispute resolution, address the threat of cyber-attack and at the same time protect the organization’s value.
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Dispute resolutions
Our independent experts are experienced in advising on civil and criminal matters involving contract breaches, partnership disputes, auditor negligence, shareholder disputes and company valuations, disputes for corporates, the public sector and individuals. We act in all forms of dispute resolution, including litigation, arbitration, and mediation.
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We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
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Internal audit
We work with our clients to assess their corporate level risk, identify areas of greatest risk and develop appropriate work plans and audit programs to mitigate these risks.
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As a service organization, you know how important it is to produce a report for your customers and their auditors that instills confidence and enhances their trust in your services. Grant Thornton Advisory professionals can help you determine which report(s) will satisfy your customers’ needs and provide relevant information to your customers and customers’ auditors that will be a business benefit to you.
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Globalization and company growth ambitions are driving an increase in M&A activity worldwide as businesses look to establish a footprint in countries beyond their own. Even within their own regions, many businesses feel the pressure to acquire in order to establish a strategic presence in new markets, such as those being created by rapid technological innovation.
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Valuations
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
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Tax Alert
Misuse of fiscal terminals in Puerto Rico
03 Dec 2019On November 26, 2019 the Puerto Rico Treasury Department (“PRTD“) issued Administrative Determination 19-07 to inform the taxpayers that penalty under Section 6043.06(c) of the Puerto Rico Internal Revenue Code (” the Code”) related to the installation and misuse of the fiscal terminals, may be imposed electronically through SURI or in person by an Internal Revenue agent when they identify that the merchant:
a. does not have a fiscal terminal installed at one or more points of sale when it is required;
b. has a fiscal terminal but is not transmitting the information to the Department or is not transmitting the information correctly.
c. does not allow or obstructs the inspection of points of sale and fiscal terminals installed at the location
d. turns off the terminal, mutilates, damages, destroys, modifies or alters the fiscal terminals.
When the PRTD determines that the merchant is in breach of the installation, maintenance, and use of the fiscal terminals, according to the Code and the regulations in force, the Treasury will impose a penalty according to the number of infractions committed by the merchant, as detailed below:
- First infraction $ 500
- Second violation $ 2,000
- Third infraction $ 9,000, or
- Fourth infraction $ 20,000
The PRTD will determine the number of infractions based on the information available in their information systems. Administrative Determination 19-07 will be effective immediately.
Please contact our Tax Department should you require additional information regarding this or any other tax issue. We will be glad to assist you.
Also appears under...