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It’s been almost two years since Act 52-2022 introduced a noteworthy change to Puerto Rico's income tax regime by adopting the Disregarded Entity (DE) treatment. This change aligns Puerto Rico’s taxation treatment of single-member entities with the one established by the U.S. federal tax code for DE. Its purpose is to foster local parity for owners who have elected this option for their entities in the U.S. One key aspect to consider is that certain local rules for DEs may differ from the ones established in the U.S.

Brand has been identified as a key driver of mid-market success when looking to grow and develop international business.

In September 2015, the United Nations introduced an ambitious and transformative global agenda known as the Sustainable Development Goals (SDGs). Adopted by all 193 UN member states, these 17 interconnected goals aim to address pressing global challenges, such as poverty, inequality, climate change, environmental degradation, and peace and justice, by 2030. The SDGs represent a call to action to create a more equitable and sustainable world. Countries worldwide have been making commendable efforts to implement the SDGs. Take, for instance, Sweden, a frontrunner in sustainability, which is actively reducing carbon emissions and embracing renewable energy sources. This European country is aiming to have zero net emissions of greenhouse gasses into the atmosphere by 2045.

The Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA) issued Statement on Auditing Standards (SAS) No. 136, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA, (SAS No. 136, as amended) for auditors who perform audits of financial statements of employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA).