Puerto Rico's Underground Economy And Tax System Essay

Puerto Rico's Underground Economy And Tax System - Essay Example These rules also cover the condition in using US flagships as well as the minimum wage standard. Income coming from other U.S. possessions or Puerto Rico is generally considered as foreign-source income. On the other hand, entities which are instituted other U.S. possessions or Puerto Rico, are usually considered as foreign persons. Special Tax Rules Related to Puerto RicoAs a consequence of the hybrid domestic-foreign conduct of individuals in Puerto Rico, the common ideology of U.S. taxation are qualified by numerous particular rules pertinent to U.S. citizens and inhabitants of, and U.S. persons who are conducting business in the said territory.Other rules, on the other hand, are intended to put off U.S. Federal tax laws from opposing tax incentives applied by Puerto Rico to draw investors. The United States has also placed in tax incentives to help Puerto Rico when it comes to acquiring employment producing investments particularly from companies in the US. The demand for these p articular tax incentives could be traced in part, to the extra costs placed on investing in Puerto Rico mainly since it holds such status as a U.S. possession. When taking into account the earlier U.S. law, definite domestic corporations with operations in U.S. possessions could vote for under Code section 936 to commonly do away with the U.S. tax, which also includes the alternative minimum tax, on particular foreign source income which was associated with their processes in the specified regions.

Reflective report Essay Example | Topics and Well Written Essays - 1500 words - 2

Reflective report - Essay Example The last is related to the PDP and the accomplishments, and modificiations that had been performed. The strong points include the contents and general information being clearly mentioned on a PowerPoint format that enabled a clear view. Further, the confidence and the skills of the group members to present the information in an impressive way was another strong point. Despite this positive, the main weak side faced during work as a unit on the given presentation was time management. In my view, this resulted from the numerous and occasional contrasting timetables of the members in the group. Hence it made it uneasy to dedicate proper time that would match all. As a consequence, the group failed to fulfil the domain of appropriate time period allocation. In spite of that we resorted to interacting through the digital electronic means. It resulted in reduced practical and productive interaction as such. Additionally, I sensed that larger part of disagreement during the presentation and the report writing resulted from the various variations in the overall attitudes towards the group work experience. Each member of the group had different set of goals in their academic pursuits in this regard. Partly few of the group members aimed mere passing grades, others strived for excellence and thought they could get A grades. This resulted in overall differe nce in views and tendencies towards main goals. In case we were given another chance to perform the given task, I would personally come up with number of suggestions and recommendations. This would include rehearsal of the presentation in a proper manner before the actual deadline. Also ensuring that each member knows what the task is. Selecting the right man for the right kind of job within the task and group would make up for my strategy as a fresh start. Luckily, after receiving the response regarding the presentation’s shortcomings from our teacher, it enabled us to