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PR Treasury Extends Due Dates

An McV Tax Alert

October 4, 2017

The Puerto Rico Treasury Department (“Treasury”) issued IB 17-21 on September 27, 2017, to notify the new deadlines to file certain returns and declarations and pay certain taxes due during the taxable periods of September and October, 2017, as follows:

I. Returns and Tax Payments

  • Taxpayers Other than Large Taxpayers (defined in Section 1010.01(a)(35) of the Puerto Rico Internal Revenue Code of 2011, as amended)
    • The due dates of the returns and declarations, with payments, if any, including extensions, between September 19, 2017 and October 20, 2017, are extended for 20 calendar days.
    • Tax payments or deposits, with due dates between September 19 and October 20, 2017, are extended for a period of 20 calendar days.  In the particular case of merchants subject to the sales and use tax (SUT) bi-monthly installment, Treasury has determined that merchants that are not Large Taxpayers will not be required to make such bi-monthly payments until December 1st, 2017.  Merchants, however, are still required to remit the SUT collected on their sales on the 20th day of the month following the month that the SUT was collected (or as otherwise extended by Treasury).
    • Returns, payments or declarations with original due dates extended by Internal Revenue Circular Letter No. 17-13 (CL 17-13), Internal Revenue Informative Bulletin No. 17-17 (IB 17-17), or Internal Revenue Informative Bulletin No. 17-18 (IB 17-18), are automatically extended by 20 additional calendar days from the date stated in these publications, as follows:
       

Form Num.

 

Name

 

Type of Tax

 

Original Due Date

 

New Due Date

       

SC 2225

 

Monthly Excise Tax Return for August 2017 and Payment

 

Excise

 

Sept. 10, 2017

 

Oct. 9, 2017

       

SC 2222

 

Quarterly Return for Environmental Protection Deposit 

 

Excise

 

Sept. 10, 2017

 

Oct. 9, 2017

       

480.9A

 

Deposit of Taxes Withheld for Services Provided and Paid in August 2017

 

Employment / Withholdings

 

Sept. 10, 2017

 

Oct. 9, 2017

       

AS 2915.1 D

 

Monthly Use Return on Imports for August 2017 and Payment for  Bonded Importers

 

SUT

 

Sept. 10, 2017

 

Oct. 9, 2017

Large Taxpayers: Sept. 25, 2017

       

480.36

 

Monthly Excise Tax Deposit Form pursuant to Act 154-2010

 

Income Taxes

 

Sept. 15, 2017

 

Oct. 17, 2017

       

480.9

 

Deposit of Taxes Withheld  on Corporate Dividends paid in August 2017

 

Employment / Withholdings

 

Sept. 15, 2017

 

Oct. 17, 2017

       

480.9 

 

Deposit of Taxes Withheld on Partnership Distributions made in August 2017

 

Employment / Withholdings

 

Sept. 15, 2017

 

Oct. 17, 2017

       

SURI

 

Payment of First Bimonthly Installments for the month of September 2017

 

SUT

 

Sept. 15, 2017

 

Only Large Taxpayers: Oct. 4, 2017

       

480.9

 

Deposit of Taxes Withheld on Interest Payments made in August 2017

 

Employment / Withholdings

 

Sept. 15, 2017

 

Oct. 17, 2017

       

480.9

 

Deposit of 10% Penalty on August 2017 Withdrawals of Individual Retirement Accounts

 

Employment / Withholdings

 

Sept. 15, 2017

 

Oct. 17, 2017

       

480.9A

 

Deposit of the Tax Withheld on August 2017 Payments for Judicial or Extrajudicial Compensatory Damages 

 

Employment / Withholdings

 

Sept. 15, 2012

 

Oct. 17, 2017

       

480.31

 

Deposit of Tax Withheld on Non-residents during August 2017

 

Employment / Withholdings

 

Sept. 15, 2017

 

Oct. 17, 2017

       

480.32

 

Deposit of Taxes Withheld on Royalties during the previous month

 

Employment / Withholdings

 

Sept. 15, 2017

 

Oct. 17, 2017

       

499 R-1

 

Deposit of Income Taxes Withheld by the Employer in the previous month (employers subject required to deposit monthly)

 

Employment / Withholdings

 

Sept. 15, 2017

 

Oct. 17, 2017

       

480.9A

 

Estimated Income Tax Payment on the Distributive Share of Partnerships, Special Partnerships, and Corporations of Individuals with a natural year

 

Income Taxes

 

Sept. 15, 2017

 

Oct. 17, 2017

       

480.37

 

Estimated Tax Deposit Form – Net Income Attributable to Puerto Rico sources pursuant to Section 1123(f) of the PR Code – Third Installment – Individual taxpayers and Calendar year corporate taxpayers

 

Income Taxes

 

Sept. 15, 2017

 

Oct. 17, 2017

       

480.E-1

 

Payment of third installment of estimated taxes – Individuals and Corporations with a natural taxable year

 

Income Taxes

 

Sept. 15, 2017

 

Oct. 17, 2017

       

480.2EC

 

Informative Return on Pass-through Entities with a taxable year ending June 30, 2017

 

Income Taxes

 

Sept. 15, 2017

 

Oct. 19, 2017

       

480.2

480.30(II)

 

Income Tax Return for Corporations or businesses with a tax exemption grant with fiscal year ending May 31, 2017

 

Income Taxes

 

Sept. 15, 2017

 

Oct. 19, 2017

       

480.2EC

 

Informative Return for Pass-through Entities with a taxable year ending March 31, 2017, that timely filed an extension to file

 

Income Taxes

 

Sept. 15, 2017

 

Oct. 19, 2017

       

480.2

480.30(II)

 

Income Tax Return for Corporation or businesses with a tax exemption grant that have a fiscal year ending on February 28, 2017, that timely filed an extension to file

 

Income Taxes

 

Sept. 15, 2017

 

Oct. 19, 2017

       

AS 2915.1

 

Monthly SUT return with corresponding payment for August 2017

 

SUT

 

Sept. 20, 2017

 

Oct. 17, 2017

Large Taxpayers: Oct. 4, 2017

       

SURI

 

Payment of Second SUT bimonthly installment for the month of September

 

SUT

 

Oct. 2, 2017

 

Only Large Taxpayers: Oct. 9, 2017

                         
                         

Notwithstanding the 20-day extension, merchants that would like to file the Declaration of Import (Form AS 2970.1), the Tax on Imports Monthly Return (Form AS 2915.1 D) or the Sales and Use Tax Monthly Return (Form AS 2915.1), or to pay the sales and use tax (“SUT”) in the corresponding installment, will be able to do so accessing SURI at https://suri.hacienda.pr.gov.

  • Large Taxpayers
    • Every transaction executed through SURI related to the SUT with a due date that falls during the months of September and October of 2017, including without limitation the filing and payment of: (i) the Tax on Imports Monthly Return (Form AS 2915.1 D), (ii) the Sales and Use Monthly Return (Form AS 2915.1), and (iii) the SUT bi-monthly installments. The due date for these transactions are extended for seven additional calendar days from the due dates established in CC 17-13, IB 17-17 and IB 17-18.  See Table Above.
    • The due dates of the excise tax payments on the acquisition of certain personal property and services pursuant to Section 3070.01 of Puerto Rico Internal Revenue Code of 2011, (Act 154-2010) corresponding to August and September of 2017, are extended until Friday, October 6, 2017 and Friday, October 20, 2017, respectively.              
    • The 20-day extension discussed in Part a. above applies to all returns, declarations and payments due by Large Taxpayers, except for the following transactions:

II. Request of Information by Treasury

With the exception of taxpayers that received a request for information through Form SC 6048, Request for Information of the Tax Credits Reported in Form 480.71 (“Form SC 6048”), any request for information from Treasury, including requests for information for regular audits and for audits by mail, are postponed for a period of 30 calendar days.  This 30-day extension will only apply to requests for information with a due date that falls during the months of September and October 2017.

The period to submit the information requested on Form SC 6048 is extended for a two-week period from the date of issuance of IB 17-21 (i.e., September 27, 2017), regardless of the due dates established in the notices or in ADs 17-10 and 17-11.

III. Internal Revenue Licenses

Taxpayers required to renew their licenses during September and October, 2017, will not be required to do so.  These licenses will remain in effect provisionally for an additional two-month period from the due date for the payment of the license fees.  Upon renewal of the licenses, they will be effective retroactively to the original due date for the payment of the license fees.

IV. Other

The Bulletin also provides additional time to comply with payments due under taxpayer payment plans approved by Treasury. 

Finally, the bulletin establishes that any document, request, payment or process at Treasury that is not otherwise specifically addressed in IB 17-21 is extended by 30 additional calendar days.

The content of this McV Alert has been prepared for information purposes only. It is not intended as, and does not constitute, either legal advice or solicitation of any prospective client. An attorney-client relationship with McConnell Valdés LLC cannot be formed by reading or responding to this McV Alert. Such a relationship may be formed only by express agreement with McConnell Valdés LLC.

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