Puerto Rico: Tax Haven or Tax Controversy?

Tax professionals, William Inchoco, JD ITP MPA, and Michael March, Esq., alongside Jeanelle Alemar-Escabí, CPA of JEA Law discuss the tax incentives in Puerto Rico, including Act 60 and its requirements. They also cover what income is subject to Puerto Rico's tax regime v. the United States' tax regime and highlight the potential civil and criminal tax consequences for noncompliance with the Act 60 requirements.
Chapters:
00:00 - Intro
6:21 - Special Incentives Under Act 60
18:00 - Bona Fide Residents (BFR), Regular Taxes & Foreign Entities Engaged in a Trade or Business in Puerto Rico (ETBPR)
23:31 - Act 60: Special Incentives for Entities & Individuals
29:58 - IRS Circular 230 Disclosure
33:39 - Sourcing Rules
36:05 - Act 60: Individuals & Business Entities
38:29 - Act 60: Possible Compliance Issues
41:47 - Act 60: Possible Criminal Charges
51:54 - Criminal Investigations: How Did We Get Here?
56:45 - Transfer Pricing
1:07:12 - Transfer Pricing: Puerto Rico
1:11:02 - Q&A Session
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