Puerto Rico Extends Certain Tax Due Dates Because of Hurricane Maria
Wednesday, October 18th, 2017
The Puerto Rico Department of Treasury recently released an Information Bulletin 17-21 which extends multiple tax related due dates as a result of Hurricane Maria.
This bulletin adds 20 day extensions to due dates for sales tax returns, declarations, payments, and deposits due from September 19th to October 20th, 2017, including due dates that were extended by previous bulletins.
The 20 day extensions apply (1) to all due dates for taxpayers that are not "large taxpayers" and (2) "large taxpayer" due dates except for sales tax related transactions made through SURI in September and October. These SURI related transactions are only allowed an additional seven day extension. "Large taxpayers" include (1) commercial banks or trust companies, (2) private banks, (3) securities or broker houses, (4) insurance companies, (5) telecommunication businesses, and (6) any other merchant whose annual business volume is greater than $50 million.
The Department of Treasury has also granted a 30 day extension for taxpayers to submit documents and other information requested under audit or other procedures. This extension only applies to information that was required to be submitted in September and October.
Any taxpayers that are part of the Taxpayer Rehabilitation Plan will not be subject to fines, penalties, or interest for lack of payment from September 1 until the end of the year.
Taxpayers that need to pay and renew licenses in September or October are given a two month license extension from the payment due date.
Transaction (buying or selling things), Tax (the tax on this activity), Resources (our people, our website, our support services) - TTR, Inc.
TTR has a website that companies subscribe to and use daily. This website provides a list of everything that can be bought or sold in the U.S. It provides simple answers to whether buying or selling these items is taxable (subject to a sales tax or other tax), and it provides all the legal authority to support these tax answers.
TTR likes to keep things simple and fun, which is why it has great people who provide help to clients on any support questions they have about transaction tax issues.
Please visit TTR on the web at www.ttrus.com or call 866.578.8193.
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