In today's rapidly evolving global economy, businesses must continuously innovate and update their technology, products, and services to stay competitive. Research and Development (R&D) is critical in this process, driving innovation and enhancing the companies’ offerings. These activities stimulate competition, promote economic growth, and create a healthier business environment.
Services
We approach each audit with sharp thought, straight talk and common sense. In addition to verifying that financial results are fairly presented and meet...
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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
At Kevane Grant Thornton, tax is a key part of our organization and our award-winning teams can offer you a range of solutions, whatever the size of your...
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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
As your business grows, our advisory services are designed to help you achieve your goals. Successful growth often means navigating a complex array of...
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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.
Our outsourcing services allow you to save time and money in order to concentrate on the competencies and the core business activities.
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The Kevane Grant Thornton Difference
Grant Thornton prides itself on being a values-driven organization and we have more than 56,000 people in over 140 countries who are passionately committed to...
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Familia Kevane reflects the sentiment that our partners and team members express about their experience in the firm and that steers the pillars that define our...
Emerging markets and shifting consumer demand are creating new opportunities in food and beverage, with business leaders investing in new products, markets and...
Optimism is slowly returning to the global economy, but the financial services industry needs to regain the trust of public and private bodies. To succeed,...
At Kevane Grant Thornton we provide services to the Healthcare industry
Rapid change and complexity are norms, and innovation the fuel in the technology industry. Today’s revolutions – including cloud, as-a-service, social media...
At Kevane Grant Thornton we provide services to the Industrial products industry.
Across the globe, not for profit organizations are increasingly expected to deliver more, while at the same time facing cuts in government funding and...
We work with all types of agencies, including central and state government, local government, donors (including bilateral and multilateral international...
While the impact of the prolonged downturn continues to be felt, pockets of opportunity and optimism have emerged within the retail estate and construction...
At Kevane Grant Thornton we provide services to the Services industry.
Dynamic businesses need to move with speed and purpose if they want to capitalise on opportunities in hospitality and tourism. At Grant Thornton, we know...
Tax Insight
Tax Benefits for Investing in Local R&D and Innovation
Tax Insight
Sales and Use Tax: The impact of manufacturer's rebates and treatment of warranties
In Puerto Rico, the treatment of manufacturer’s rebates and warranties affects the sales price of tangible personal property and its corresponding Sales and Use Tax (“SUT”). Despite the fact that the Puerto Rico Treasury Department published guidance on this matter, sellers and buyers had different views on how to treat the rebates and warranties when computing the sales price of a transaction, which in turn resulted in discrepancies over the accuracy of the seller's SUT calculation.
Tax Insight
A Deep Dive into Puerto Rico's Excise Taxes
Excise taxes play a fundamental role in Puerto Rico's fiscal policy, impacting both individuals and businesses across various sectors. Understanding the complexities of these taxes, along with available exemptions and strategic management approaches, is essential for maintaining compliance and optimizing financial strategies. Excise taxes in Puerto Rico are specific taxes imposed on the sale, use, consumption, importation, or manufacture of certain goods. They are different from income taxes and sales and use taxes, focusing on targeted items. These items are detailed in Sections 3020.01 through 3020.12 of Subtitle C, Chapter 2. of the Puerto Rico Internal Revenue Code of 2011, as amended, (“PR Tax Code”). All sections cited below are in relation to the PR Tax Code.
Tax Article
Transfer Pricing: What is it and how can it benefit my business?
On May 11, 2021, the Puerto Rico Treasury Department issued Administrative Determination No. 21-05 and determined that, for taxable years that begin after December 31, 2018, taxpayers will be able to deduct 100% of the expenses incurred or paid to stockholders, related persons or entities not engaged in trade or business in Puerto Rico, as long as the expenses are based on a Transfer Pricing Study that has been issued and is available at the time of filing the tax return. This article will provide you with an explanation of what exactly is transfer pricing, and how a Transfer Pricing Study may benefit your business.
Tax Insight
Puerto Rico Issues New Rules for Disregarded Entities for Simpler Tax Filing
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.
Tax Insight
Preparing for Puerto Rico Treasury Tax Audits
On October 31, 2016, the Department of the Treasury launched the Unified Internal Revenue System, better known as SURI. Since then, there have been multiple updates and improvements to SURI, all in efforts to integrate and streamline tax and revenue administration to drop the complexity of having multiple systems for the benefit of the Treasury and the taxpayer. Each year it is more common for the processing time of electronically filed returns to decrease significantly, in some cases, it can take less than a week. Therefore, notices are received quickly easing a Tax Audit for the Treasury. We believe that an effective way to start and/or prepare for the 2024 tax season is to know the implications of an audit and how to be prepared for it. It is important to know the requirements that the law demands of taxpayers to follow the provisions of the Puerto Rico Internal Revenue Code of 2011. Although there are other types of audits in Puerto Rico, that are performed by the different governmental agencies in the Island, this article will cover tax audits by the Puerto Rico Treasury Department.
Tax Article
Changes in sales and use tax rules for promoters of public shows and ticket seller companies
Act 52 of June 30, 2022 (“Act 52”) modified several Sales and Use Tax (“SUT”) sections of the Puerto Rico Internal Revenue Code of 2011, as amended (“the Code”), expanding the scope of the term "marketplace seller" and "marketplace facilitator" to include the sale of “admission rights”. As a result of these amendments, the Puerto Rico Treasury Department (“PRTD”) reviewed the process to be followed by ticket seller companies and promoters to comply with the new rules. This article will guide you on the post-Act 52 requirements and processes that impact these businesses.
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7 min read
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27 Mar 2024
Tax Article
New Year's Checklist- Stay Ahead of your Taxes (Part II) - Planning for next year's filings
This is the second article of the two-part series dedicated to topics to discuss with your tax advisor at the beginning of the year. If you missed the first edition refer to New Year's Checklist- Stay Ahead of your Taxes (Part I) Planning for current year tax filings | Grant Thornton In our last article, we summarized the benefits of having a strategy call with your tax advisor to address items affecting your tax liability for the year-end early on. In this article, we will address key areas to consider that will help you proactively address aspects of the tax year currently in place. Discounts available for early tax payments Municipal license tax The PR Municipal Code requires the payment of the municipal license on the first 15 days of the semester for the business year.
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6 min read
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29 Feb 2024
Tax Alert
Essential information on the BOI Report and your responsibilities
The Corporate Transparency Act (“CTA”) established reporting requirements for certain entities (known as reporting companies) that are formed or operated within the United States of America (“U.S.”). The CTA mandates the submission of the Beneficial Ownership Information Report (“BOI Report”) to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”), with the purpose of enhancing transparency and reducing illicit financial activities. This tax update offers a brief overview of the requirements for the BOI Report and Kevane Grant Thornton (“KGT”)’s outlook to this new registration and filing requirement amidst the upcoming tax season.
Taxes
New Year's Checklist- Stay Ahead of your Taxes (Part I) Planning for current year tax filings
New Year's Checklist- Stay Ahead of your Taxes (Part I) Planning for current year tax filings
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7 min read
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31 Jan 2024
Taxes
Tax Considerations for Digital Nomads and Remote Work: How the rise of remote work affects businesses and their taxation in Puerto Rico.
Tax Considerations for Digital Nomads and Remote Work: How the rise of remote work affects businesses and their taxation in Puerto Rico.
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6 min read
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18 Dec 2023
Tax Insights
Puerto Rico Income Tax Deductions: A Step-by-Step Guide for Individual Taxpayers
This publication is part of a four-part series. For a discussion on our previous articles in this series, refer to the following links: Puerto Rico Opens its Doors for Disregarded Entities | Grant Thornton Three become One: The New Pass-Through Entity Category | Grant Thornton Puerto Rico Income Tax Deductions for Corporations: A Step-by-Step Guide | Grant Thornton
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16 min read
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31 Oct 2023
