If you have a tax exemption decree in Puerto Rico, it’s time to get ready for your Annual Exempt Business Report (IANE) filing for the 2025 tax year. The Office of Incentives for Businesses (OI) has released the latest guidance, and here’s what you need to know to stay compliant and avoid headaches down the line.

Who Needs to File an IANE?

Anyone with a tax exemption decree under Law No. 60-2019—or any previous incentive laws—must file an IANE this year. This includes:

• Resident investors
• Businesses operating under special laws (Laws 22-2012, 20-2012, 135-1997, 73-2008)
• Conduct entities
• Any other exempt businesses

If you have a decree, you’re required to file, regardless of your business size or activity.

Important Deadlines: Mark Your Calendar

The deadline for your IANE depends on your specific decree, so always check your document first. However, here are the general rules:

• General deadlines:
  • 30 days after you file your Puerto Rico income tax return (including any extensions)
  • The 15th day of the 11th month after your fiscal year closes
  • November 15, 2025, for most businesses under the Incentives Code
• Specific groups:
  • Individuals: May 15, 2025, or 30 days after you file your income tax return (including extensions)
  • Corporations: July 15, 2025
  • Qualified doctors and other industries: November 15, 2025 (IANEs available from August 1, 2025)

If your decree sets a different deadline, that date always takes precedence.

How to Get an Automatic Extension

Need more time? You can request an automatic extension for your IANE if you’ve also requested an extension for your income tax return with Hacienda. Just make sure to:

• Submit proof of your Hacienda extension when you file for the IANE extension
• For those with a May 15, 2025, deadline, you have until June 15, 2025, to request the extension, with no penalty if you meet the requirements.
• Pay the $105 processing fee for the extension

New Features and Amendments

• You’ll be able to amend previously filed IANEs starting May 30, 2025
• New IANE forms for “Qualified Doctors” and “Other Industries” will be available from August 1, 2025

Tips to Stay Compliant

• If your decree has a unique deadline, follow it.
• Keep records of all extension requests and proof of filing.
• The OI is working to streamline the process and improve coordination with Hacienda for easier compliance.

Need help or have questions about your IANE? Reach out to your compliance advisor or tax professional to make sure you’re covered for 2025.

This overview is based on the latest official communication from the Office of Incentives for Businesses in Puerto Rico for the 2025 tax year.