The Puerto Rico Treasury Department (PRTD) is preparing to transition to a Value Added Tax (VAT) System whose effective date has been postponed until June 1, 2016. Notwithstanding the above, the Puerto Rico House of Representatives (the House) recently proposed several bills, specifically HB 2032, HB 2838, HB 2839, and HB 2840, to eliminate the VAT System from the Puerto Rico Internal Revenue Code of 2011 (the Code), among other items. Read More »
Tag: Puerto Rico
Puerto Rico – postponed the VAT implementation till 1 of June 2016
Yesterday, the Secretary of the Treasury in Puerto Rico issued a press release to postpone the effective date of the Value Added Tax (VAT) to June 1st, 2016, in accordance with his statutory authorization. The Sales and Use Tax (SUT) will continue to be in effect through May 31st, 2016, including the 4% tax on business to business and on designated professional services.
The VAT regime will enter into effect on June 1, 2016 only.Read More »
Puerto Rican government proposes to enact a new value added tax (VAT) regime in 2015
The Puerto Rican government is considering implementing a comprehensive tax reform package between January and March 2015, which would replace the current sales and use tax system enacted in 2006.Read More »
Michaela Merz 