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An unclear future for Law 154

Foreign corporations subject to tax consider modifying decrees if the IRS drops the federal credit

26 de noviembre de 2019 - 10:35 AM

Archival note
This content was published more than 5 years ago.
Federal Treasury Department Secretary Steven Mnuchin (left) warned that Puerto Rico's government should seek an alternative to foreign arbitrium. (GFR Media)
Federal Treasury Department Secretary Steven Mnuchin (left) warned that Puerto Rico's government should seek an alternative to foreign arbitrium. (GFR Media)

Almost three months after the U.S. Treasury requested Puerto Rico to modify the law that created the so-called “4 percent tax”, the government has yet to decide what to do with the tax credit that makes up nearly a quarter of its tax revenues.

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