Act No. 257 was enacted on December 2018 and made substantial changes to the Puerto Rico Internal Revenue Code of 2011, as amended (“the PR Code”). Under the new rules, if a company or self-employed individual want to deduct certain items, it will be required...
On January 8, 2020, the PRTD issued the Internal Revenue Circular Letter No. 20-02 (“Circular Letter”) to extend the due dates for several returns, declarations and payments of certain taxes due up to January 30, 2020. The extended due dates are as follows: Extended until January...
On January 9, 2020, the Puerto Rico Treasury Department (PRTD) issued the Administrative Determination 20-01 (“Determination”) to temporarily exempt certain items (foods) acquired by natural persons from sales and use tax due to the recent seismic activity experienced through the Island. The exemption will be...
The Galíndez, LLC team is proud to support the Association for Youth and Community of Barrio Palmas, Inc. (Asociación Pro Juventud y Comunidad de Barrio Palmas or APJ), a resilient nonprofit organization organized in 1984 by a group of citizens concerned about the high degree...
Galíndez, LLC was proud to be a part of United Way’s ‘Regala un Día’® (‘Give a Day’), as part of our community support efforts and as a great team-building event. This annual community program is aimed at promoting volunteering and creating social awareness of the...
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,...
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...