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...
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...
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...