New bill targets crypto tax break in Puerto Rico
April 23, 2025
Rep. Nydia Velázquez seeks to make digital asset income federally taxable for mainland investors on the island. #NewsismyBusiness
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Puerto Rico Treasury opens free tax assistance centers
March 8, 2024
The filing centers offer guidance on tax returns and credits to salaried employees and retirees. #NewsismyBusiness
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Puerto Rico Treasury simplifies oil tax refunds for farmers
January 25, 2024
The improved SURI procedure is for excise taxes on gas and diesel oils. #NewsIsMyBusiness
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IRS to host security webinar for tax professionals on Nov. 30
November 30, 2023
Tax pros are the first line of defense in protecting taxpayer information. #NewsismyBusiness
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Pierluisi submits bill to increase tax benefits to offset inflation
January 4, 2023
Gov. Pedro Pierluisi announced he will submit a bill to the Legislature that would introduce a cost-of-living adjustment to Puerto Rico’s Internal Revenue Code to increase tax benefits and offset the effects of inflation on individuals. “The COVID-19 pandemic and other global factors have contributed to the increase in the cost of living for Puerto […]
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Treasury wraps up ’21 tax cycle with 1.2M returns filed, $1.3B in refunds
April 26, 2022
The agency has also paid $800M+ in Work Credit benefits.
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RSM Puerto Rico firm reports 7.1% growth in ’20
January 19, 2021
RSM Puerto Rico, a local audit, tax and consulting firm focused on the middle market, reported a revenue growth of 7.1% at closing of fiscal 2020, which it described as “an extremely challenging year for the business community both locally and globally.” Business consulting and tax advisory services grew 9.2% and 10.1%, respectively, attributed to […]
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New tax model for P.R. seeks to spur employment, economic development
April 16, 2018
Puerto Rico Gov. Ricardo Rosselló submitted his vision for a new tax model to the island’s Legislative Assembly aimed at encouraging work and create economic development through changes to the Internal Revenue Code.
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New gov’t conditions send ripples through P.R.’s medicinal cannabis sector
March 28, 2018
In recent weeks, two Puerto Rico government entities have sent out letters to medicinal cannabis clinics, as well as physicians, imposing conditions that could negatively affect the growing sector, this media outlet confirmed.
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Analysis: P.R. will feel economic blow of Federal Tax Cuts and Jobs Act in ’19
December 28, 2017
The recently passed Fedetal Tax Cuts and Jobs Act will have implications for Puerto Rico’s economic that will start to become more noticeable after fiscal year 2019, local research firm Estudios Técnicos Inc. predicted in an analysis released this week.
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UN: ‘American Dream’ rapidly becoming ‘American Illusion’
December 18, 2017
The United States, one of the world’s richest nations and the “land of opportunity,” is fast becoming a champion of inequality, according to the United Nations Special Rapporteur on extreme poverty and human rights, Philip Alston.
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PR’s post-María landscape presents new challenges, opportunities
December 11, 2017
Puerto Rico’s economic landscape post-Hurricane María presents a new set of challenges and opportunities to reshape business operations and education going forward, to ensure the island does not collapse and fewer residents opt to leave in search for a better life elsewhere.
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Private sector takes fight against Caguas tax to court
July 13, 2017
Faced with a recent 70 percent hike in municipal taxes payable to Caguas, a group of companies representing a broad sample of businesses — restaurants, supermarkets, cash & carries, retail store chains, and telecommunications carriers — filed a lawsuit against the town to challenge the levy.
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Private sector balks at Caguas tax hike, town defends
July 7, 2017
Private sector representatives got together Thursday to blast the Caguas municipal government for what they called an “excessive and discriminatory” tax increase that took effect July 1 and affects businesses making more than $3 million in revenue.
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Bill sparing health services from B2B tax vetoed
August 22, 2016
The Association of Insurance Companies of Puerto Rico (known as ACODESE for its Spanish acronym) blasted Gov. Alejandro García-Padilla’s decision to veto House Resolution 2698, which would have confirmed the exemption of medical services from the 4 percent business-to-business tax.
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