Ivelisse Collazo-Rivera

Ivelisse Collazo-Rivera is a member in the Corporate Department. She joined O’Neill & Borges in 1998.  Mrs. Collazo is also a certified public accountant.

Ivelisse’s practice is concentrated on all aspects of corporate taxation and tax exemption including tax incentives laws, municipal, property taxes and sales and use tax. Mrs. Collazo has substantial experience representing clients before the Puerto Rico tax authorities, including Municipalities, with respect to tax audits, private letter rulings, closing agreements and negotiation of tax incentives, including clients in the film and entertainment industry in the process of procuring film incentives tax credits.

Mrs. Collazo also has substantial experience in the establishment of new employee benefits plans in Puerto Rico and its compliance with Puerto Rico and federal laws.  She regularly advises clients in the design, implementation, administration and compliance of qualified retirement plans and nonqualified deferred compensation arrangements.  Mrs. Collazo has been actively assisting clients with the amendment and qualification of their retirement plans pursuant to the new qualification requirements under the provisions of the Puerto Rico Internal Revenue Code of 2011, as amended.

A portion of Mrs. Collazo’s practice includes advising developers, investors and housing authorities on Puerto Rico tax matters and incentives related to the financing and development of affordable multifamily and single family housing, including mixed financed developments and acquisition rehabilitation financing.  Mrs. Collazo has substantial experience with respect to tax incentives and benefits provided under Act 47 of June 26, 1987, as amended entitled the Program for Co-participation of the Public and Private Sector for the Operation of New Housing; the Rental Subsidy Plan provided by Section 8 of the National Housing Act of 1974; Act No. 165 of August 23, 1996, as amended entitled Rental Housing Program for Low Income Elderly Persons; Act No. 173 of August 31, 1996, as amended entitled  Housing Rental and Improvement Subsidy Program for Low Income Elderly Persons, including the drafting and negotiation of municipal ordinances and decrees to cover the operations of the housing projects.

From 1996 to 1998, Ivelisse worked in the tax consulting division of a major public accounting firm in San Juan, Puerto Rico.