Puerto Rico VAT and B2B Tax Increase May be Repealed

Wednesday, May 25th, 2016

 
 
Puerto Rico Department of Revenue
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Puerto Rico
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Puerto Rico's VAT tax and rate increase for business to business (B2B) services are set to go into effect on June 1, 2016. However, the laws that created the VAT and rate increase for B2B services may be repealed before June 1, 2016.

Earlier this month, Puerto Rico's legislature sent a bill to the governor's office that would repeal the VAT and B2B tax increase. The Puerto Rico governor vetoed this bill, and right now the changes are set to go into effect on June 1, 2016.

However, part of the legislature has already voted to override the governor's veto, and the other part will be voting on the issue later this week.

TTR will provide updates on this issue as they become available.

http://ttrus.com/sites/default/files/pr/2016-05-20%20Eduardo%20Bhatia%20Gautier.pdf


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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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