Puerto Rico Tax Incentives: What Is Real, What Is Risky, and What Practitioners Need to Know

Jorge Oben-Cuadros is a Partner at Procopio who advises multinational corporations, defense contractors, investment funds, high net worth individuals, and family offices, particularly from Latin America, Puerto Rico, and Europe, on U.S. and international tax and trade matters, with a focus on inbound structuring, cross-border planning, tariff exposure, and tax and trade litigation. Prior to joining Procopio, he served in the U.S. Internal Revenue Service Office of Associate Chief Counsel International, where he helped draft the GILTI regulations under Section 951A, and later as an IRS detailee to the U.S. House Ways and Means Committee, contributing to international tax legislation, Puerto Rico and territory matters, and the energy provisions of the Inflation Reduction Act of 2022. Jorge has secured significant results for clients in IRS controversy matters, including penalty abatements and refunds exceeding $850,000 through escalation to the IRS Taxpayer Advocate Service.

Jorge Kuilan, CPA serves as Puerto Rico Tax Director at CFO Associates, LLC, where he works with business owners, multinational entities, and high-net-worth individuals on Puerto Rico and U.S. tax compliance, including matters related to Puerto Rico’s incentive tax regime under Acts 20, 22, and 60. With more than a decade of experience in tax advisory, Jorge has navigated the intersection of U.S. federal tax law and Puerto Rico’s unique regulatory environment. Before joining CFO Associates, he served as International Tax Manager at The Strategic Group PR and as a Tax Advisor at BDO Puerto Rico/USVI. Jorge holds a BBA in Accounting from the University of Puerto Rico, Río Piedras, a U.S. International Tax Certificate from the AICPA, and a Postgraduate Diploma in Transfer Pricing from Middlesex University.