Deloitte Tax LLP
  • 2019-2020 Back To School Free Sales and Use Tax Holiday Period
  • Employee Retention Tax Credit Extension

EFFECTIVENESS OF AMENDMENTS INTRODUCED BY ACT 257-2018
On May 1, 2019, the Puerto Rico Treasury Department (PRTD) issued Administrative Determination No. 19-01 (AD 19-01) to clarify the effective dates of various amendments introduced by Act 257-2018 to the 2011 Puerto Rico Internal Revenue Code, as amended, as follows:


  • QUARTERLY RETURN OF TAX WITHHELD ON PAYMENT FOR SERVICES RENDERED

  • DESIGNATED PROFESSIONAL SERVICES & SERVICES RENDERED TO OTHER MERCHANTS
  • ELECTRONIC FILING REQUIREMENT: CORPORATION INCOME TAX RETURN
  • Act 6-2019 APPRAISAL OF REAL PROPERTY

Further to our Tax Alert April 2018 - Number 2, on December 10, 2018, the Governor of Puerto Rico signed Act 257-2018 to introduce various amendments to the 2011 Puerto Rico Internal Revenue Code, as amended (PR Code).


On June 8, 2018, the Puerto Rico Treasury Department (PRTD) issued Internal Revenue Circular Letter No. 18-11 (IR CL 18-11) to establish the requirements to qualify for the Employee Retention Tax Credit (ERTC) and to provide guidance.


On September 29, 2017, the Disaster Tax Relief and Airport and Airway Extension Act was enacted into law to establish an Employee Retention Tax Credit (ERTC) to Eligible Employers affected by Hurricane Irma and/or Hurricane María.


The Office of Management and Budget issued Circular Letter 154-18 to notify a change in the due date to file the 2018-19 Volume of Business Declaration.


On April 16, 2018, the Governor of Puerto Rico filed with the Puerto Rico House of Representatives and the Puerto Rico Senate a proposed Bill which seeks to amend the 2011 Puerto Rico Internal Revenue Code, as amended (PR Code) in order to set forth the administration’s New Tax Model for Puerto Rico.



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