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Puerto Rico Issues Administrative Determination on Transition from SUT to VAT

On 18 April 2016, Puerto Rico's Treasury Department issued Administrative Determination No. 16-07 on the transition from sales and use tax (SUT) to value added tax (VAT), which will be effective 1 June 2016. Key aspects of the transition include:

  • The implementation of a new electronic system (Sistema Unificado de Rentas Internas - SURI) that must be used by taxpayers to electronically file monthly VAT returns, make VAT payments, and perform other VAT-related functions, and will eventually be used to manage other taxes as well;
  • The introduction of a new form for VAT returns, which will need to be filed electronically through SURI by the 20th day of the month following each month in which VAT is charged (new form will be available from 1 July 2016);
  • The current Integrated Merchant Portal (PICO) will remain available for fulfilling SUT obligations related to transactions occurring prior to 1 June 2016, as well as for import declaration and import tax requirements;
  • All persons doing business in Puerto Rico must apply for new registration certificates for VAT, while all current SUT registration certificates will expire 20 July 2016;
  • Taxpayers with gross sales of less than USD 125,000 in the previous year may apply for a small trader registration certificate for VAT, which includes an exemption from charging VAT or filing monthly returns, but does not allow the taxpayer to claim input credits; and
  • Current exemption certificates issued for SUT purposes will continue to apply for VAT purposes until formal transition procedures are issued.

Click the following link for Administrative Determination No. 16-07 (Spanish language).

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