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Puerto Rico VAT implementation

  • Apr 22, 2016 | Richard Asquith

Puerto Rico VAT implementation

As Puerto Rico prepares to introduce a Value Added Tax to replace its current Sales & Use Tax, the Treasury Ministry has published guidance on the implementation rules.

The scheduled transition date is currently 1 June 2016, although there have been several delays on this already.

Some of the new guidance covers:

  • the new, monthly VAT return. This is due 20 days after the reporting period end.
  • details of the exemption for small companies from registration.
  • the launch of a new, online reporting portal (Sistema unificado de rentas internas)

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is the former VP Global Indirect Tax at Avalara