On 25 May 2015, The Senate of Puerto Rico approved a bill increasing the existing sales and use tax from 7% to 11.5%, as well as introducing a 4% sales tax on business-to-business (B2B) and professional services. This follows approval by the House of Representatives on 21 May 2015. Because the version of the bill passed by the Senate includes amendments to the House version, the bill must now go back to the House for final approval.
If the bill receives final approval, the increase from 7% to 11.5% is to apply from 1 July 2015, and the introduction of the 4% tax on B2B and professional services is to apply from 1 October 2015. The changes are meant to act as a transition to a new value added tax regime to be implemented 1 April 2016.
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