Taxation

Taxes are probably the single largest operating expense of most entities, even for entities enjoying tax exemptions. It can also represent an enormous financial burden on individuals.

For over twenty-six years our staff of professionals has had the opportunity to provide the adequate tools to many clients in order to increase their economic resources through an effective tax planning and adequate compliance with the tax requirements and formalities imposed by Puerto Rico and the United States. Our firm has provided creative but legal tax and corporate strategies to many clients in a wide variety of industries and business sectors. Many entities and individuals have enjoyed substantial savings since we were able to minimize their tax responsibility by benefiting of the laws applicable to each particular situation.

We provide counsel on general and complex tax matters including income tax, estate and gift taxes, property and municipal taxes, sales and use taxes and room taxes. Our attorneys handle private letter rulings for the firm’s clients as well as representing them in the negotiation of closing agreements at local and federal tax entities, including the Puerto Rico Treasury Department, Internal Revenue Service and the Municipal Revenue Collection Center. We assist our clients in obtaining tax exemptions and credits under the various incentives acts approved by the Puerto Rico Legislature for tourism, manufacturing, export, services and entertainment businesses, among others. We also provide tax counseling in regards to commercial and loan transactions, business organizations and reorganizations.

Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.

Commissioner v. Newman, 159 F. 2d 848, 850 (2nd. Circ., 1947) (Hand, L., dissenting).