Home > Uncategorized > Significant Changes to Sales Tax – Deadline July 1, 2015

Significant Changes to Sales Tax – Deadline July 1, 2015

Both the House and the Senate of Puerto Rico have approved an increased sales tax which also incorporates a new business-to-business tax.  The Governor is expected to sign it into law to begin application of this law on July 1, 2015.

Business and property owners should contact their tax/accounting specialists to begin preparations on collecting and paying these new taxes.  There will be monthly reports to file even if no taxes are collected and owed.  Heavy fines will be imposed for not complying with the filing/payment requirements. 

If your business is currently exempt from the sales tax collections, check to see if these new law changes your sales tax status.

In sum, asume nothing and promtply check you operations anew.

Very truly yours,

Santiago F.  Lampón

Categories: Uncategorized
  1. Ruth Belardo
    May 31, 2015 at 6:57 am

    I would like to know if you can help me with a property that my grandparents left for us. Need to know how to go about selling the property .Please contact me if you can.

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