News

20 Feb No Applicability of Penalties, Fines, Interests or Surcharges for Transactions Related to the Additional Taxes Integrated to SURI

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On January 29, 2019 the PRTD issued the Internal Revenue Informative Bulletin Number 19-02 to waive any penalty, fine, interest or surcharge that may result from the filing or payment of taxes in SURI corresponding to any “Phase 2 Transaction”.  This waiver applies if the...

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18 Feb Changes in the Withholding Tax at Source for Services Rendered

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The PRTD issued Internal Revenue Informative Bulletin Number 18-24 to clarify certain tax amendments incorporated to the PR Code by Act No. 257-2018.  As a general rule, every person, natural or juridical, that in the conduct of a trade or business or for the production...

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15 Feb Waiver Certificate from Withholding Tax at Source for Services Rendered

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On December 4, 2018, the PRTD, issued Internal Revenue Circular Letter Number 18-15, to establish a new procedure for the issuance of Total or Partial Waiver Certificates (“Waiver Certificate”).   Automatic Waiver Certificate – Taxpayers with an active account in the Internal Revenue Unified System or...

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15 Feb Time Extension for Employee Retention Benefit for Hurricanes Irma and Maria

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The PRTD issued Internal Revenue Circular Letter 18-20 (“IRCL 18-20”) on December 28, 2018, to notify the procedure in which an Eligible Employer may file a claim with the PRTD regarding the benefit requested. Eligible Employers who timely requested the benefit but have yet not...

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04 Feb Automated Clearing House (ACH) Credit File Specifications for SURI Payments

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The PRTD issued Publication 06-06 on January 29, 2019, to notify taxpayers about the new specifications for ACH Credit payments. With the integration of additional taxes into the SURI system, new payment types will be available through the ACH Credit mechanism.  For more detail, you...

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03 Feb Moratorium of Payment Plans for Employees of US Federal Government Affected by the Shutdown

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The PRTD issued the Internal Revenue Circular Letter Number 19-01 on January 23, 2019, to approve a moratorium on the payment plans with the PRTD for those federal employees affected by the closure of the Federal Government (“Affected Taxpayer”).  Accordingly, the Affected Taxpayer will not...

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01 Feb 2018 Non-Withholding Agents Annual Report Due Date Postponement

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Pursuant to Section 4041.03 of the PR Code, every merchant who is not a withholding agent for sales and use tax (“SUT”) purposes shall send a notice, on or before January 31 of each year, to all Puerto Rico purchasers who acquired merchandised from said...

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01 Feb 2019 Applicable Limits for Qualified Retirement Plans under §1081.01(a) of the Code

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On December 31, 2018, the PRTD issued Internal Revenue Circular Letter 18-21, to notify the applicable limits to qualified retirement plans for the tax year 2019. For more detail on such limits, please use the following link: [button size='' style='' text='LEARN MORE' icon='' icon_color='' link='http://hacienda.pr.gov/publicaciones/carta-circular-de-rentas-internas-num-18-21-cc-ri-18-21'...

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05 Jun Employee Retention Credit for Employers Affected by Hurricanes Irma and María

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* Certain requirements and conditions apply. Please see below for more information. ** Portal was supposed to be available as of June 1, 2018; however, it is not operational yet. We understand it shall be available in the next following days.   Background The Disaster Tax Relief and Airport...

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03 Apr Treasury Provides Guidelines for Extension and Waiver of Penalties

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The Treasury Department (the “Department”) issued Administrative Determination No. 18-07 (the “Determination”). The Determination basically discusses two items. First, it extends the automatic extension terms from three to six months. Second, it provides some guidelines to request the waiver of additions to the tax for...

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