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  • Article

    New FTC Rule Bans Employee Non-Competition Agreements That Prevent Employees From Accepting Subsequent Employment Or Operating A Business

    On April 23, the Federal Trade Commission approved a rule (16 CFR Part 910) prohibiting employers from requiring their workers to enter non-compete agreements or requiring them...
    Puerto RicoEmployment and HR
    Reichard & Escalera
    Reichard & Escalera
  • Article

    Treasury Extends Due Date For Exempt Business Income Tax Return

    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)...
    Puerto RicoTax
    Reichard & Escalera
    Reichard & Escalera
  • Article

    Permit Regulations Update

    On June 16, 2023, the Supreme Court of Puerto Rico ("Supreme Court") issued a Per Curiam Opinion in case
    Puerto RicoReal Estate and Construction
    Reichard & Escalera
    Reichard & Escalera
  • Article

    New Puerto Rico Fair Internships Act

    On December 22, 2022, the Puerto Rico Governor signed into law Act No. 114-2022 ("Act. No. 114") which seeks to provide certain rights for individual who participate in internship programs and/or
    Puerto RicoEmployment and HR
    Reichard & Escalera
    Reichard & Escalera
  • Article

    The Puerto Rico Treasury Department Opens A Consultation Process On Pillar Two

    On September 23, 2024, the Puerto Rico Treasury Department opened a public consultation process to determine a path forward for the possible implementation...
    Puerto RicoTax
    Reichard & Escalera
    Reichard & Escalera
  • Article

    Reichard & Escalera Update

    The Department of Treasury's Financial Crimes Enforcement Network ("FinCEN") issued a final rule on September 30, 2022 (the "Final Rule") implementing Section 6403 of the Corporate Transparency Act ("CTA").
    Puerto RicoCorporate/Commercial Law
    Reichard & Escalera
    Reichard & Escalera
  • Article

    Treasury Sets Effective Date For The Tax Credits Management System

    On June 30, 2022, the Government of Puerto Rico enacted Act 52-2022 ("Act 52"), known as the "Puerto Rico Public Finance Stability Act"...
    Puerto RicoTax
    Reichard & Escalera
    Reichard & Escalera
  • Article

    Labor And Employment Update

    Last January 17, 2024, the Governor of Puerto Rico signed into law the Act to Facilitate the Implementation of Remote Work in the Private Sector and to Promote the Establishment of Airline Operations
    Puerto RicoEmployment and HR
    Reichard & Escalera
    Reichard & Escalera
  • Article

    The Office Of Management And Budget Sets Dates For The Filing Of Volume Of Business Declarations

    On March 12, 2024, the Office of Management and Budget issued Circular Letter No. 002-2024 ("Circular Letter") setting forth relevant dates in connection with the filing of volume of business declarations ("VOBD").
    Puerto RicoTax
    Reichard & Escalera
    Reichard & Escalera

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