28 Oct Puerto Rico Department of Treasury Updates: Filing Date Changes
Your trusted team of Tax Consultants at Galíndez LLC wishes to share some updated information. The Treasury Department issued Internal Revenue Bulletin 21-08 which changes the filing dates for sales and use tax (“SUT”) purposes.
Prior to the Bulletin, the Monthly Tax Return on Imports was due on the 10th day of the following month, and then the monthly return on the 20th day of the following month. The new Bulletin consolidates both filings on a new monthly SUT return which will be due on the 20th day of the following month. This change is effective for October 2021, and, therefore, the SUT Imports Return that was due for November 10, 2021, has been eliminated. All SUT transactions will be included in the new SUT return, which will be due on November 22, 2021. The new return must be filed electronically using SURI. Please note that this Bulletin does not change the requirement and filing procedure for Form SC AS 2970.1 – Declaration of Use on Imports of Goods and Services Non-Merchants. Furthermore, if you have used any portion of your Imports Bond, such used amount will have to be reinstated. Also, Treasury advises merchants who claim the Credit for Sales of Merchant’s Property or the Credit for Bad Debts in the new return, to maintain all supporting evidence of such credits. For your convenience, we enclose copy of the Bulletin and of the new return (Form AS 2915.1).
We are including a copy of the bulletin in both English and Spanish for your benefit. It is essential to keep our clients and community aware of these essential updates. Please keep watching this space for additional notifications from Galíndez, LLC.
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