Puerto Rico VAT Postponed for Two Months

Tuesday, March 8th, 2016

 
 
Puerto Rico Department of Revenue
Share
Link
Puerto Rico
General

The Puerto Rico Department of Treasury ("Department") announced today that it will postpone the Value Added Tax (VAT) until June 1, 2016. The Sales and Use Tax (SUT) will remain in effect until May 31, 2016.

The decision was made due to a large number of complaints received by merchants seeking to postpone the VAT and to give the legislature time to study new tax reform proposals that would modify the tax system currently in place. Additionally, the Department stated that postponing the VAT would ensure a smooth and orderly transition.

However, the Department emphasized that the 4% tax on business-to-business services and designated professional services continues to be in effect. This tax will help offset the estimated planned revenue of the postponed VAT.

http://www.hacienda.pr.gov/sobre-hacienda/sala-de-prensa-virtual/comunicados-de-prensa/secretario-del-departamento-de-hacienda-extiende-la-implantacion-del-iva-hasta-el-31-de-mayo-de-2016


About TTR

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.

Washington Provides Guidance on Lodging Tax for Online...

Friday, October 12th, 2018 -The Washington Department of Revenue released updated guidance that provides tax reporting information for bed...

Economic Nexus in West Virginia

Wednesday, October 10th, 2018 -The West Virginia State Tax Department announced that it will require remote sellers to begin collecting sales...

Idaho Provides Guidance on the Exemption for Medical...

Monday, October 8th, 2018 -The Idaho State Tax Commission recently released guidance that explains Idaho's sales and use tax laws for buy...

Arkansas Does Not Follow Federal Law on Foreign Income

Friday, October 5th, 2018 -The Arkansas Department of Taxation and Finance recently released an opinion that says the state does not conf...

South Dakota Provides Guidance on the Taxation of Churches

Wednesday, October 3rd, 2018 -The South Dakota Department of Revenue (DOR) recently released guidance that provides information about how sa...

Mowing Services to Keep Right of Way Clear Taxable in...

Monday, October 1st, 2018 -The Arkansas Department of Finance and Administration recently ruled that lawn-mowing services to keep a right...