Treasury Department Circular Letter 15-12

Here you will find the Circular Letter 15-12 published by the Puerto Rico Treasury Department on August 17, 2015. This letter provides guidance to be followed by certain professionals as part of the introduction of the 4% sales and use tax on services rendered pursuant to Act 72 of May 29, 2015. As we stated in our previous communication dated June 4, 2015, beginning on October 1st, 2015, the exclusion of the “designated professional services” and “services rendered to a person in a business-related activity” commonly referred to as the Business to Business exclusion, is no longer in effect and in general, these transactions shall be subject to a 4% sales and use tax.

Specifically, this letter addresses that those merchants which provide “Designated Professional Services”, as defined in the PR Code and in this letter (i.e. CPA, Lawyers, Engineers, among others). These merchants shall modify their current Sales and Use Tax Merchant’s Registry following the guidelines set forth in this letter to update it and be in the position to collect the tax on October 1st, 2015.

To those that these changes apply, feel to contact us at your convenience.

Here is a copy of the document: Circular Letter 15-12

DFK Acceptance

It is with great pleasure to announce that LPG CPA, P.S.C., is as a member of DFK International (“DFK”).

DFK International is a top 10 international association of independent accounting firms and business advisers. It has been helping its member firms meet the needs of clients with international business interests for more than 50 years. Member firms are chosen for the quality of service they provide, combining their local knowledge with global connectivity to provide flawless service delivery on time and at the right price.

DFK International world statistics for 2019 were the following:

• 220 member firms;

• 439 member offices and;

• 95 countries were DFK has presence divided in three major regions as follows:

• The Americas region – This region covers North, South and Central America.

• Asia-Pacific region – The Asia-Pacific region encompasses all of Asia, east of Iran and south of Russia, and includes all of Australasia and the Pacific Islands.

• EMEA region – The EMEA region comprises Europe, the Middle East and Africa.

For us in LPG it is of great satisfaction to be part of this prestigious affiliation which goes hand on hand with the growth that we have experimented since inception back in 2009. With this affiliation we improved the services that we offer through knowledge that each member of the international network has in its niches of businesses, as also it will fortify our capacity to serve local and international clients, maximizing possible synergies of these markets. This affiliation is an additional step in our mission to continuously improve the capacities and resources we offer which will ultimately result in better services for each one of our clients.

For more information on DFK you can access