Puerto Rico Announces Unified System of Internal Revenue (SURI)
Monday, October 17th, 2016
Puerto Rico's Treasury Department announced that, effective October 31, 2016, a new electronic system called SURI (Unified System of Internal Revenue) will replace the current sales and use tax system (PICO). SURI will be the only digital tool merchants will have available for their sales and use tax transactions.
On October 15th, merchants must update their Certificates of Registration in SURI. Once the conversion process is complete, merchants will receive an email stating that their registration has been processed and that they can access SURI. The new Certificate of Registration will replace the current certificate.
The former system, PICO, will no longer be available as of October 28th at 3:45 PM.
SURI will eventually be used for other taxes, including corporate and income taxes. These phases will roll out in 2017 and 2018.
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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