Comptabilitat a Puerto Rico

Accounting Rules

Tax Year

The country's accounting period is 12 months, from 1st of July to 30 of June.

Accounting Standards

Puerto Rico uses the same accounting principes as the United States (GAAP).

Accounting Regulation Bodies

Public Accounting Oversight Board
US Securities and Exchange Commission (SEC)

Accounting Reports

All companies must provide a yearly financial statement. Companies incorporated outside Puerto Rico and companies with a turnover of more than $3m must also include an audited balance sheet. The latter must also furnish an accounting report certified by a public accountant licensed in Puerto Rico and a financial statement.

Publication Requirements

All companies are required to file a yearly financial statement with the State Department of Puerto Rico. Companies with a turnover of over $3m must also provide a balance sheet certified by a certified public accountant registered in Puerto Rico and an accounting report.

Professional Accountancy Bodies

American  Institute  of  Certified  Public  Accountants
Colegio de Contadores Públicos Autorizados de Puerto Rico , Certified Public Accountants Association of Puerto Rico

Certification and Auditing

Like in the United States, companies functioning as Certified Public Accountants which provide public attestation services must be registered withe the Public Accounting Oversight Board.

Accounting News