Puerto Rico: Low tax jurisdiction offers attractive base to local and foreign investors
Puerto Rico has seen GDP increase of 11% growth in its economy since 2019, despite the challenges felt globally from COVID 19, to global recession and supply chain challenges.
Corporate Transparency Act – Beneficial Ownership Information Reporting Requirements
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a Final Rule addressing reporting obligations concerning beneficial ownership information (“BOI”) under the Corporate Transparency Act (“CTA”)
2023 Puerto Rico Direct and Indirect Annual Statutory Tax Returns – When and where to file
The Puerto Rico Internal Revenue Code (“Code”), Section 1061.16, establishes the time and place for filing the required income tax returns with the Puerto Rico Treasury Department, being every April 15 the main income tax due date for individuals and corporate taxpayers with calendar year-end.
US Department of Labor Announces Final Rule on Classifying Workers as Employees or Independent Contractors Under the Fair Labor Standards Act
The U.S. Department of Labor announced a final rule to help employers and workers better understand when a worker qualifies as an employee and when they may be considered an independent contractor under the Fair Labor Standards Act.
Kreston Global: Impact Plan
Kreston Global has developed an Impact Plan that will help us become a more sustainable network and to create “positive impact.
A moratorium on new Employee Retention Credit claims will allow the IRS to better protect the public from scams
Amid rising concerns about a flood of improper Employee Retention Credit claims.
Auditor Role in Financial Statement Fraud Prevention
Auditors have a significant role in financial statement fraud prevention.
Back To School Free Sales and Use Tax For The Period 2023-2024
During this period, the school uniforms and school materials can be acquired exempt from sales and use tax.
Tax Alert: Act 52-2022 – Technical Amendments – 2011 Puerto Rico Internal Revenue Code
The Governor of Puerto Rico signed Act No. 52-2022 (Act 52) to introduce various technical amendments to certain provisions of the 2011 Puerto Rico Internal Revenue Code, as amended (PR Code).
2022 Puerto Rico Direct and Indirect Annual Statutory Tax Returns – When and where to file
The Puerto Rico Internal Revenue Code (“Code”), Section 1061.16, establishes the time and place for filing the required income tax returns with the Puerto Rico Treasury Department, being every April 15 the main income tax due date for individuals and corporate taxpayers with calendar year-end.
Pass: Peer Review Year 2021
The American Institute of Certified Public Accountants (AICPA) requires its member firms to undergo a peer review program.
Tax Alert – September 2022
Tax Administrative Measures in response to the Emergency Caused after the passage of Hurricane Fiona.
