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Financial statements audits
Financial statement audits
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Compliance audits
Compliance audits
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Compilations and reviews
Compilations and audit
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Agreed-upon procedures
Agreed-upon procedures
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Corporate and business tax
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
Individual taxes
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Estate and succession planning
Estate and succession planning
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Global mobility services
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.
Rules for the deposit of withheld income tax
18 Dec 2018The Puerto Rico Treasury Department has issued the Administrative Determination No. 18-14 establishing the new income tax
This Administrative Determination has the objective of simplifying the income tax withheld deposits rules and effective January 1, 2019, the Puerto Rico Department of Treasury determines to standardize the current rules to those established by the IRS and abolish the CC RI 07-05.
Monthly depositor
New employers and employers that reported income tax withholding of $50,000 or less during the lookback period, generally must make only monthly deposits for the entire calendar year. The monthly deposit must be made on or before the 15th day of the following month.
The lookback period is the 12-month period ending on June 30th of the prior year. For example, for calendar year 2019, the twelve-month lookback period is July 1, 2017 thru June 30, 2018.
Semiweekly depositor
An employer that reported income tax withholdings of more than $50,000, during the lookback period. Such employers must make deposits on or before Wednesday or Friday depending on the timing of their payrolls.
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Payment day |
Deposit day |
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Wednesday, Thursday or Friday |
Next Wednesday |
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Saturday, Sunday, Monday or Tuesday |
Next Friday |
Exceptions
De Minimis Rule
If an employer’s income tax withholdings for a return period are less than $2,500, no deposits are required and the tax can be paid with the quarterly return.
Next Day Deposit Rule
If a monthly or semiweekly depositor accumulates income tax withholdings of $100,000, or more during a deposit period, the taxes must be deposited by the next business day. A monthly depositor who must make a one-day deposit, cease to qualify as a monthly depositor and from that moment on, the employer becomes a semiweekly depositor.
Links-
Determinación Administrativa Núm. 18-14
*Note for an English version of this link, you can right click your mouse and select translate. A formal English version of this publication is not available yet.
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