Regulatory Analysis

Pursuant to the Antigua and Barbuda Inland Revenue Department announcement on December 22, 2023, the ABST (sales tax) rate increased from 15% to 17% effective January 1, 2024. The announcement can be found here.

On May 15, 2023, Puerto Rico’s Hacienda Department released Administrative Determination No. 23-02. The circular specifies the hurricane preparedness sales tax free period will take place on May 26-28, 2023. The circular also reiterates that products such as batteries, water, non-perishable food, storm preparedness supplies, and certain emergency equipment or supplies are included in the […]

On May 1st, 2023 SUNAT published Resolution 097/2023 that establishes the procedure for returning the General sales Tax (IGV) to tourists, indicates the date of operation of the first authorized checkpoint and regulates other provisions. This resolution establishes that the authorized checkpoint of the international air terminal is located in the pre-boarding control area of […]

The Aruban Department of Taxes announced a 1% increase to the turnover tax (BBO) rate effective 1 January 2023. As a result the combined BBO, BAVP, and BAZV rate will increase to 7%. Please note that the proposed VAT system previously announced for implementation from 1 January 2023 has been delayed until 2024. The announcement […]