On August 2, 2019, the Puerto Rico Treasury Department (“PRTD”) issued Administrative Determination Number 19-03 (“AD 19-03”) providing guidelines and requirements to reduce the sales and use tax (SUT) from an 11.5% to 7% for restaurants and the sale of prepared foods, carbonated beverages, pastries,...
At Galíndez, LLC we're all about team building and the great culture that sets us apart. That's why we are proud to be a part of the Puerto Rico CPA Bowling League, which has been bringing accountants to the lanes for the last 31 years....
The PRTD issued the Internal Revenue Circular Letter Number 19-11 on May 17, 2019 to establish the two-day period on July and January in which school uniforms and materials are exempt from sales and use tax for the fiscal year 2019-2020. Such period will be from...
On December 10, 2018, Act 257 (“Act 257-2018”) was enacted to incorporate several amendments to the PR Code. The Act is effective as of its approval date, unless the same Act provides otherwise. On May 1, 2019, the PRTD issued the Administrative Determination Number 19-01...
Recognizing that a large number of taxpayers have not been able to obtain all the required information to submit the application of the employee retention benefit and that such federal funds are vital in the recovery and support of the businesses in Puerto Rico, the...
The Puerto Rico Treasury Department (“PRTD”) issued Internal Revenue Circular Letter Number 19-10 (“IRCC 19-10”) on April 4, 2019 to: Notify the new form and describe the filing procedure for the new quarterly return and, Establish the minimum amount of income tax withheld that may be...
Another important partnership we have is with “Fondos Unidos de Puerto Rico”. For more than 50 years, this private organization has been dedicated to promoting well-being among the community. It aims to work with volunteers in an intimate way and to foster a better quality...
The 2017 Tax Cuts and Jobs Act (the “TCJA”) incorporated in the United States Internal Revenue Code of 1986, as amended (the “IRC”) the concept of Opportunity Zones (the “OP Zones”). If a person realizes a capital gain and invests it in a duly designated...
A Special Announcement to all our Esteemed Clients: We are extremely excited to announce that Galíndez, LLC is now part of Nexia International. Nexia International is the ninth largest global network of independent accounting and consulting firms, and we have been added as their exclusive partner...
On September the 21st, 2017, life for all Puerto Ricans was forever changed as Hurricane Maria made landfall. As soon as the calm settled, Galíndez, LLC sprang into action. After making sure all our staff members were okay, we went hard at work to ensure...