The Puerto Rico Treasury Department (PRTD) has published Internal Revenue Informative Bulletin No. 17- 26 regarding the tax registration and filing requirements for entities and individuals doing business in Puerto Rico. The publication is made following the impact of hurricanes Irma and Maria and the resulting number of new entities and individuals now doing business in the country. In particular, the purpose of the Informative Bulletin is to alert all entities and individuals that started or will start operations in Puerto Rico, of their obligation to register with the PRTD, following the procedures and requirements established by the Code. These requirements may include, but are not limited to, the following:
In addition to the registration requirements, entities and individuals may be required to file monthly, quarterly, and/or annual returns with the PRTD and comply with obligations as a withholding agent. Penalties for non-compliance may apply.
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