This bill is related to a bill (H.R. 3552) previously introduced by Representative Pedro Pierluisi, which has been referred to the House Committee on Ways and Means.

To combat exposure to COVID-19, Puerto Rico Governor Wanda Vázquez Garced issued Executive Order EO-2020-023 on March 15, 2020, ordering an island-wide lockdown and curfew.

On June 3, 2024, the Puerto Rico Department of Treasury ("Treasury") issued Circular Letter No. 24-13 establishing the procedure for the electronic filing of the new Form 480.3(II)...

The Organization for Economic Cooperation and Development (OECD), of which the United States is a member, has proposed a 15% minimum global tax on business income.

With the havoc wrought by Hurricane Maria in Puerto Rico, employers are exploring options to provide emergency relief to those employees who have encountered financial hardship to meet their necessities ...

Puerto Rico has enacted legislation that creates a tax amnesty program that will be in effect from May 13, 2013 through June 30, 2013.

On July 1, 2014, Puerto Rico adopted new legislation (Tax Act 77), which provides a window from July 1, 2014 – October 31, 2014, for participants in Puerto Rico retirement plans to prepay at reduced rates Puerto Rico income tax on the value of accrued benefits.

On February 20, 2020, the Puerto Rico Treasury Department (PR Treasury) issued Internal Revenue Circular Letter No. 20-08 (CC RI 20-08)

On October 4, 2017, the Puerto Rico Department of the Treasury issued Administrative Determination No. 17-21 granting temporary income tax exemptions for payments and certain benefits ...

Recent changes to Puerto Rico's tax treatment of certain retirement plans have taken effect. Act No. 106 of August 23, 2017 ("Act 106") amended Section 1081.01 of the Puerto Rico Internal Revenue Code...

On October 22, 2018, the Puerto Rico Department of the Treasury (the "PR Treasury") issued Publication 18-03, which makes tax reporting and tax deadline changes for certain severance payments.

As previously discussed, on October 4, 2017, the Puerto Rico Department of the Treasury (the "PR Treasury") issued Administrative Determination No. 17-21 ("AD 17-21") granting temporary income ...

All of the recent changes to the required minimum distribution (RMD) rules of Section 401(a)(9) of the U.S. Internal Revenue Code, except for provisions related to the handling of tax-free rollovers..

The Puerto Rico Treasury Department has released regulations to provide guidance on the application of the new rules for controlled groups of corporations and related entities included in the Internal Revenue Code for a New Puerto Rico

In response to the earthquakes that since January 6, 2020, have shaken Puerto Rico, on February 18, 2020, the Puerto Rico Department of the Treasury...

With the fourth quarter of 2020 upon us, it is time to evaluate the year-end amendments that may be needed for retirement plans that are tax-qualified in Puerto Rico.

On January 20, 2021, the Puerto Rico Department of the Treasury (Departamento de Hacienda, commonly known as "Hacienda") issued Administrative Determination No. 21-01 (AD 21-01),...

To help ease the administration of retirement plans in Puerto Rico during the coronavirus outbreak, on March 24, 2020, the Puerto Rico Department of the Treasury...

Puerto Rico's unique status as a US territory impacts its decision-making on the OECD's global minimum tax, known as Pillar Two. If implemented in its proposed form...

On February 20, 2020, the Puerto Rico Treasury Department (PR Treasury) issued Internal Revenue Circular Letter Number 20-09 (CC RI 20-09)...