Author: Galíndez LLC

01 Mar Closing of Taxable Years by Closing Agreements with the PR Treasury Dept

Posted at 00:00h in News

On February 12, 2018, the Supreme Court of Puerto Rico published their most recent tax case, Demeter International v. Secretario de Hacienda, 2018 TSPR 21. In summary, the Puerto Rico Department of Treasury (“the Treasury”), notified tax deficiencies to Demeter International Inc. (“the Taxpayer”), for...

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03 Feb Procedure to Claim Mortgage Interest Deduction for Taxpayer Who is Not a Debtor or Co-Debtor

Posted at 00:00h in News

The Treasury issued on January 30, 2018, the Internal Revenue Circular Letter No. 18-01 to establish the procedures and documents required to claim the deduction of mortgage interest paid or accumulated by a person other than the mortgage loan debtor or co-debtor. To be eligible...

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30 Jan 2017 Income Tax Returns are Released

Posted at 00:00h in News

On January 30, 2018, the Puerto Rico Treasury Department (“Treasury”) issued Internal Revenue Informative Bulletins 18-04, 18-05 and 18-06 to announce the release of the Spanish version of the following 2017 income tax returns with their corresponding instructions and schedules: Form 482.0 – Individual Income...

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