Employment Law Information Network

All Things Labor and Employment Law

Home > State Law Articles > Puerto Rico > Governor Signs Bill Providing “Window Period” Allowing Participants in Retirement Plans to Pre-pay at a Reduced Rate the Tax on Amounts Accumulated Under a Retirement Plan

Governor Signs Bill Providing “Window Period” Allowing Participants in Retirement Plans to Pre-pay at a Reduced Rate the Tax on Amounts Accumulated Under a Retirement Plan

Filed Under: Puerto Rico

In an effort to increase revenues and to set up the basis for an upcoming restructuring of our tax system, the Puerto Rico Governor signed into law Act 77 of July 1, 2014 (Act 77). Act 77 amends various tax legislation, including the Puerto Rico Internal Revenue Code of 2011 (the New PR Code).