Puerto Rico still taxes tips despite US exemption plan
23 de septiembre de 2025
Local rules treat gratuities as taxable wages while federal proposal would spare service workers. #NewsismyBusiness
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Perspectiva: Implicaciones fiscales para quienes se mudan a Puerto Rico o se van de la isla.
10 de marzo de 2025
It is presumed that an individual is a resident of Puerto Rico if the individual has been present in Puerto Rico for a period of 183 days during a calendar year. #NewsismyBusiness
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New tool reveals impact of gov’t programs, taxes on island’s poverty
12 de diciembre de 2024
The Instituto del Desarrollo de la Juventud developed the tool to better understand families living in poverty. #NewsismyBusiness
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MIDA: Tech, economy redefine grocery shopping in Puerto Rico
junio 5, 2024
The Consumer X-Ray also revealed that average monthly spending on food purchases stayed flat when compared to 2023. #NewsismyBusiness
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Puerto Rico NGOs urge people to claim their tax credits early
enero 26, 2024
Free assistance is being offered to file for higher EITC and CTC. #NewsIsMyBusiness
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Puerto Rico gov unveils proposal to reduce taxes by over $500M
febrero 6, 2023
Amendments aim to benefit the middle class and businesses, as well as simplify the filing process.
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Puerto Rico included in ‘Economic Freedom of North America’ report
enero 18, 2023
The island is the “least free” jurisdiction in the United States.
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Gov’t unveils redesigned SURI platform, announces start of ’21 tax cycle
febrero 16, 2022
This year’s filing deadline is April 18, 2022.
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Artículo de opinión: ¿Qué debe saber si se muda a Puerto Rico o desde Puerto Rico?
29 de marzo de 2021
If during tax year 2020 you moved to or from Puerto Rico, you should know that there are several factors that determine whether the move will imply that you will become a resident or if you will no longer be a resident of Puerto Rico for tax purposes. The definition of residence in the Puerto […]
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Treasury Dept. seeks exclusion from federal Foreign Tax Credit public policy
febrero 11, 2021
The Puerto Rico Treasury Department has asked its federal counterpart to clarify whether a new regulation under consideration concerning credits granted for taxes paid by corporations doing business abroad would apply to Puerto Rico. In a letter sent to US Treasury Secretary Janet Yellen, the local government asked for the proposed “Guidance Related to the […]
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Puerto Rico Telecom Alliance pushes for public hearings for Senate Bill 1333
junio 9, 2020
The head of the Puerto Rico Telecommunications Alliance, Felipe Hernández, called on lawmakers to hold public hearings on House Bill 1333, which the group claims would increase the internet and cellular service bills for local consumers and could bankrupt nearly 100 Puerto Rican small businesses that serve more than 300,000 subscribers. Hernández demanded that House […]
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Vázquez signs law to reduce tax rate for some Puerto Rico residents
abril 20, 2020
Gov. Wanda Vázquez signed into law a bill presenting several amendments to the Puerto Rico Tax Reform passed last year that will benefit taxpayers, entrepreneurs and seniors. Law 40-2020, grants an additional 3% reduction for taxpayers whose gross income does not exceed $100,000; eliminates the tax on the provision of services rendered to other businesses […]
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Treasury Dept. makes optional contribution option available for self-employed
enero 24, 2020
Puerto Rico Treasury Secretary Francisco Parés-Alicea issued a call to self-employed individuals and services companies to review the “Optional Contribution” as an alternative when filing this year’s tax return. “This is one of the major changes approved in the 2018 Tax Reform and an alternative that could facilitate compliance with tax obligations in a simpler […]
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Rosselló signs P.R. Incentives Code into law
julio 2, 2019
Gov. Ricardo Rosselló has signed Act 60-2019, known as the “Puerto Rico Incentives Code,” which will establish a new process for granting and overseeing all of the government’s allocated incentives. Among the new incentives is the Student Savings Plan Program through which the government will establish an account and deposit $1,000 for each kindergarten student […]
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[PODCAST] Benefits of opening an IRA account as tax deadline looms
abril 11, 2019
CPA Rubén Rodríguez, a member of the Puerto Rico Society of CPAs, and expert on the topic of Individual Retirement Accounts (IRAs), discusses their benefits to taxpayers in Puerto Rico in our latest podcast episode.
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