The Puerto Rico Treasury Department has issued Administrative Determination No. 18-07, which provides for an extension of the standard 3-month automatic extension for return filing to a 6-month extension in respect of the 2017 tax year for all taxpayers that have submitted a standard request for an automatic extension. This additional three months is provided as a result of the impact of Hurricane Maria, which several businesses are still recovering from, resulting in a delay in accounting for operations. The Administrative Determination also establishes procedures for an exemption from the surcharge for late final tax payment, subject to certain conditions,...