Puerto Rico COVID-19 Tax Measures

The Puerto Rican government announced economic measures on 23 March 2020 in response to the COVID-19 threat. With respect to taxation, the measures include:

• an extension of the corporate and individual income tax payment deadlines to 15 July 2020;
• the suspension of sales and use tax (IVU) collection in the docks and the resale chain for 3 months;
• the suspension of the 10% withholding of payments for professional services for 3 months; and
• a waiver of penalties for non-compliance with the bi…