Puerto Rico: Amnesty legislation enacted, preceding tax reform

Amnesty legislation enacted, preceding tax reform

Legislation in Puerto Rico establishing a program of amnesty for certain surcharges, interest, and penalties was signed by the governor at the end of March 2015.

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This legislation was enacted in anticipation of further tax reform measures.

Under the legislation, there is a program of abatement (amnesty) for interest, penalties, and surcharges relating to certain enumerated taxes including income tax (except for years beginning after December 31, 2013), transfer taxes, excise tax, and sales and use tax.

 

For more information, contact a tax professional with KPMG in Puerto Rico:

Rolando Lopez | +1 (787) 622-5330 | rlopez@kpmg.com

Carlos Molina | +1 (787) 622-5311 | cmolina@kpmg.com

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