Puerto Rico's Treasury Department has announced the release of a new income tax return for businesses that derive income covered by various tax exemption incentive decrees. Previously, different return forms were required depending on the particular tax exemption, such as the exemption incentives for industrial development, for green energy, for tourism development, etc. To simplify the filing and processing of different return forms and reduce associated costs, seven different return forms have been consolidated into one form, Form 480.3(II), for tax periods beginning on or after 1 January 2023. English and Spanish language versions of the new form are available...