Puerto Rico's withholding rate for payments made to independent contractors increased for 2019
I see that Puerto Rico's withholding rate for payments made to independent contractors increased for 2019 (see below). Can you recommend software that can support these updates?
(Act 257-2018 increases the withholding rate on payments made after 31 December 2018, on account of services rendered from 7% to 10%. Also, Act 257-2018 provides an option for the individual to increase the withholding rate to the maximum rate under the optional flat tax rate method. Additionally, Act 257-2018 modifies certain definitions of items subject to the withholding, and lowers the $1,500 withholding threshold for payments made after 31 December 2018 to $500. Act 257-2018 amends the existing rules to obtain a partial or full waiver from the withholding.)