Simplifying Global Compliance
The QMN Weekly Bulletin
Puerto Rico Plans Extension, Hike on Manufacturing Tax
Feb. 15, 2013
Devicemakers face yet another tax battle if Puerto Rico goes through with plans to increase its tax rate on manufacturers based outside the country. Under a 2010 law known as Act 154, companies whose sales exceed $75 million a year must pay an excise tax on products made in Puerto Rico and sold overseas. The tax was introduced in 2011 at a rate of 4 percent and was to drop to 1 percent by 2016 before expiring entirely.
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