Founded in 2002 Alvarado Tax & Business Advisors LLC, a limited liability company organized under the laws of Puerto Rico, is engaged in providing tax and business advisory services. Most of Alvarado Tax & Business Advisors LLC professionals, including its seven members, provided services on the Tax and Business Advisory Practices of one or more international certified public accounting firms.
Alvarado Tax & Business Advisors LLC is the first truly multidisciplinary tax and business advisory professional services firm in Puerto Rico unencumbered by the constraints of association with an auditing firm and the regulatory and disclosure rules of the Securities and Exchange Commission.
Since our inception the Firm has been a key player in most of the major legislative or regulatory projects carried out in Puerto Rico at both the State and Municipal levels. Some of these projects are the following:
- Member of the 2010 Puerto Rico Treasury Department Team in charge of discussing the Proposed Tax Reform.
- Project Managers during 2008 of Treasury-PRIDCO team in charge of drafting the regulations of the non-administrative sections of the 2008 Tax Incentives Act for the Economic Development of Puerto Rico (the “2008 Act”).
- Member during 2008 of the Private Enterprise Committee in charge of drafting the 2008 Act.
- Member during 2008 of the Puerto Rico Treasury Department Team in charge of the drafting of the regulations of the 2008 Act.
- Member from 2005 to 2007 of the Puerto Rico Treasury Department Tax Reform Group in charge of drafting a significant overhaul of the Puerto Rico Internal Revenue Code of 1994. The Firm was a key participant in the drafting of the first State level Sales and Use Tax legislation as well as in the preparation of the related regulations.
- Teamed up during the year 2004 with the firm Bearing Point in the preparation of a Tax Reform Implementation Analysis and Operational Review of the Puerto Rico Treasury Department.
- Advisors to the Autonomous Municipality of Guaynabo with regard to the implementation of the sales and use tax provisions.
- Member of the Special Committee to analyze the organizational structure of the Municipal Revenue Collection Center (“CRIM” for its Spanish acronym ) which is the entity responsible for the imposition and collection of the property taxes on behalf of the 78 municipalities of the Commonwealth of Puerto Rico.
- Preparation during 2007 of Sales and Use Tax legislation for the Municipality of Dorado.
- Preparation during 2006 and 2007 as requested by the Board of Directors of the CRIM, together with a local economist, of two studies to determine the viability of the substitution of the personal property tax for another municipal level tax.
- Preparation during 2006 of the first Sales Tax Legislation in Puerto Rico, either at the State or Municipal level, for the Autonomous Municipality of Caguas. Work included preparation of the related regulations.