Some companies from the U.S. mainland operate in Puerto Rico directly vs. through Controlled Foreign Corporations. They pay federal income tax on their territorial income at the normal 35 percent rate.
Most manufacturing in Puerto Rico is done by subsidiaries of companies based in the States organized in foreign tax havens to avoid Commonwealth as well as federal taxes. Income of the subsidiaries is not federally ...
The Puerto Rico Marketing, Industry and Food Distribution Chamber (MIDA for its Spanish acronym), filed a lawsuit Thursday against the government, asking the San Juan Superior Court to declare the so-called “national tax” unconstitutional and ...