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Withholding Tax Puerto Rico

Ogletree, Deakins, Nash, Smoak & Stewart,...

Puerto Rico Extends Due Dates for Retirement Plan Tax Reporting and Withholding Obligations Due to COVID-19

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 (commonly known by its Spanish name as Departamento de Hacienda...more

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Puerto Rico Treasury Department Issues New Quarterly Tax Return for Withholding Payments for Services Rendered

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Act 257 of December 10, 2018 (Act 257) amended the Puerto Rico Internal Revenue Code to require any person or entity required to withhold income tax on payments for services rendered to submit a reconciliation quarterly tax...more

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Puerto Rico Treasury Announces 2017 Limits on Qualified Retirement Plans

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On December 8, 2016, the Puerto Rico Department of the Treasury issued its Tax Policy Circular Letter No. 16-07 (“CL 16-07”), announcing the applicable limits for 2017 for qualified retirement plans. Pursuant to Section...more

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Puerto Rico Employers Cannot Withhold Income Taxes for Christmas Bonuses of $600 or Less

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Pursuant to the current income tax withholding rules issued by the Puerto Rico Department of the Treasury, there are specific income tax withholding rules applicable when a Christmas bonus is paid, which differ from those...more

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