Puerto Rico Treasury Department has issued announcement 18-08 establishing the procedures for applying to receive state tax exempt status for non-profit organizations. Under these dispositions, entities seeking tax exempt status may submit their requests through an expedited process that could grant them status as early as 60 days from the completion of the application status.

Entities seeking this expedited process must comply with several requirements, submit several CPA certified forms and pay a fee ranging from $300 to $1,500 for the application, depending on its actual or estimated gross proceeds.

Sosa & Arvelo can help you obtain your tax exempt status in Puerto Rico. If you have any questions, please contact us.