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Agreed-upon procedures
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Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
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International tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
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Tax compliance
Business Tax
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Individual taxes
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Estate and succession planning
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Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
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Sales and use tax and indirect taxes
SUT/ VAT & indirect taxes
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Tax incentives program
Tax incentives program
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Transfer Pricing Study
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
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Business consulting
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
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Forensic and investigative services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
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Fraud and investigations
The commercial landscape is changing fast. An ever more regulated environment means organizations today must adopt stringent governance and compliance processes. As business has become global, organizations need to adapt to deal with multi-jurisdictional investigations, litigation, and dispute resolution, address the threat of cyber-attack and at the same time protect the organization’s value.
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Dispute resolutions
Our independent experts are experienced in advising on civil and criminal matters involving contract breaches, partnership disputes, auditor negligence, shareholder disputes and company valuations, disputes for corporates, the public sector and individuals. We act in all forms of dispute resolution, including litigation, arbitration, and mediation.
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Business risk services
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
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Internal audit
We work with our clients to assess their corporate level risk, identify areas of greatest risk and develop appropriate work plans and audit programs to mitigate these risks.
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Service organization reports
As a service organization, you know how important it is to produce a report for your customers and their auditors that instills confidence and enhances their trust in your services. Grant Thornton Advisory professionals can help you determine which report(s) will satisfy your customers’ needs and provide relevant information to your customers and customers’ auditors that will be a business benefit to you.
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Transactional advisory services
Transactions are significant events in the life of a business – a successful deal that can have a lasting impact on the future shape of the organizations involved. Because the stakes are high for both buyers and sellers, experience, determination and pragmatism are required to bring deals safely through to conclusion.
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Mergers and acquisitions
Globalization and company growth ambitions are driving an increase in M&A activity worldwide as businesses look to establish a footprint in countries beyond their own. Even within their own regions, many businesses feel the pressure to acquire in order to establish a strategic presence in new markets, such as those being created by rapid technological innovation.
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Valuations
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
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Recovery and reorganization
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
The Puerto Rico Treasury Department (PRTD) has issued the Informative Bulletin 17-06 announcing changes on informative returns reporting requirements for taxable year 2017.
Significant changes
The most important changes on 2017 reporting requirements are the inclusion in Forms 480.6A on payments made and that are not subject to withholding in excess of $1,500 to those that comply with one of the exemptions established in Section 1062.03(b) of the Code. A box code field was added to the tax return to present the applicable exemption.
The exemptions codes are detailed as follows:
- payments made to hospitals, clinics, homes for terminally ill patients, homes for the elderly, and institutions for disabled persons.
- payments made to exempt organizations.
- earnings or profit generated by direct salespersons for the sale of consumer products.
- payments made to contractors or subcontractors for construction work.
- payments for services to a bona fide farmer provided by Section 1033.12.
- payments made directly or through agents, representatives or other intermediaries, to an eligible carrier.
- payments made by an eligible carrier to a not-for-profit entity for purpose of bookkeeping, recording, reporting and collection of air or sea transportation ticket sales and other related services.
- payments for ecclesiastic services rendered by priests or other ministers of the gospel, including Hebrew rabbis.
- payments for services rendered by drivers of transportation companies, according to AD No. 16-16.
- payments for services rendered by a member of a controlled group of corporations or group of related entities.
- payments for services rendered not subject to withholding, as provided by the Secretary through an Administrative Determination, Circular Letter or Informative Bulletin.
In Forms 480.6B a box field was added to detailed reimbursed expenses included on payments made for services rendered by individuals and payments made for services rendered by partnerships and corporations.
In the case of payments for services rendered made to an individual who has an employer identification number, you must include such identification number and the amount paid in box 1, as payments for Services Rendered by individuals.
Remember that for taxable year 2017 it is required to have the waiver certificate number when filing Forms 480.6B.
Links:
Informative Bulletin 17-06
Informative Returns Electronic Filing Requirements for Tax Year 2017
Informative Bulletin 18-02
Boletín Informativo de Rentas Internas NÚM. 18-02