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Puerto Rico Introduces Biweekly Sales and Use Tax Payment Requirement

On 7 August 2017, Puerto Rico's Treasury Department published a notice on the approval of Law 46-2017 and the issuance of Administrative Determination 17-07, which introduced a new biweekly payment requirement for sales and use tax (SUT). The new requirement includes that for taxpayers whose average monthly SUT payments in the previous year exceeded USD 2,000, SUT installment payments must be made on the 15th of each month and the last day of the month. Payment is made via the SURI electronic system (Sistema Unificado de Rentas Internas).The requirement does not apply in relation to Municipal SUT, which remains due on the 20th of the following month.

To be considered compliant, taxpayers must pay at least 80% of the SUT due for the month in the two installments, or pay at least 70% of the SUT paid in the same month in the previous year. If the two installments amount to less than the lower of the two conditions, the difference will be subject to a 10% penalty, which is in addition to any other penalties.

The new requirement applies from August 2017 for large taxpayers, and from September 2017 for other taxpayers meeting the USD 2,000 condition.

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