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.

Colorado Waives Penalties for Notice and Reporting...

Monday, February 19th, 2018 -The Colorado Department of Revenue (DOR) released a publication stating that it has agreed to waive penalties ...

Maryland Sales Tax Holiday for Energy Efficient...

Friday, February 16th, 2018 -The Maryland sales tax holiday for energy efficient appliances runs from Saturday, February 17, 2018, at 12:01...

Dental Prostheses Exempt in Michigan

Wednesday, February 14th, 2018 -The Michigan Department of Treasury recently released a publication describing the retroactive exemption for d...

Taxability of Amusement Devices and Video Games in...

Monday, February 12th, 2018 -The Wisconsin Department of Revenue has released guidance addressing the taxability of video games and amuseme...

Video Streaming Subscriptions Taxable in Texas

Friday, February 9th, 2018 -The Texas Comptroller of Public Accounts recently ruled that video streaming and add-on services are taxable a...

Moratorium on Medical Devise Excise Tax Extended Two More...

Wednesday, February 7th, 2018 -The United States Congress extended the moratorium on the Medical Device Excise Tax (MDET) for another two yea...