Indirect tax ebook - Puerto Rico

After the effectiveness of Puerto Rico Act. No. 117 of 4 July 2006, taxpayers are still adapting to the implementation and the administrative process related to the collection, payment and filing of the Sales & Use Tax (SUT).

Our highly experience tax team can help national and international clients with all compliance and advisory work related to the Puerto Rico SUT. We want to assist you in the compliance with the SUT requirements and procedures. We provide the following services:

Compliance

State and Municipal Registration
preparation and filing of the Monthly Sales & Use Tax Return
Sales & Use Tax compliance audit
assistance with SUT notifications

Advisory

day to day advice
SUT new legislation updates
discussion with official bodies concerning the interpretation of tax rules
assistance in applying for an official ruling including interpretation of a ruling

The Puerto Rico Treasury Department is being very rigorous with the implementation of the SUT and is conducting investigations to ensure compliance with the requirements. Onerous penalties can arise for noncompliance, for that reason and in order to minimize our client’s risk, Kevane Grant Thornton is open to assist you with all the matters related to the SUT. We can help you understand the complex SUT rules and provide you with sound and practical solutions.

Information about Puerto Rico:

Last updated April 2012

This information has been provided by Kevane Grant Thornton, a member firm within Grant Thornton International Ltd and is for informational purposes only. Neither Kevane Grant Thornton nor Grant Thornton International Ltd can guarantee the accuracy, timeliness or completeness of the data contained herein. As such, you should not act on the information without first seeking professional tax advice.
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Contact us

For further information on indirect taxes in Puerto Rico please contact María de los Angeles Rivera, tax partner and IBC director.

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