Volume of Business Declaration: New Forms, Deadlines, And Extensions Announced
On February 27, 2025, the Director of the Puerto Rico Office of Management and Budget (“OGP” by its Spanish acronym) issued Circular Letter 001-2025 (“CC 001-2025”) to establish the deadlines to file the Volume of Business Declaration for Fiscal Year 2025-2026 (“VOB Declaration”) and its corresponding extensions, as well as to provide guidance on related filing requirements, among others. CC 001-2025 also addresses the gradual implementation of new forms for certain municipal tax filings.
Newly Issued OGP Forms
OGP issued the following new forms (the “New OGP Forms”) in substitution of prior equivalent forms OCAM PA01, OCAM 102, and OCAM PA03 (the “Prior OCAM Forms”):
- OGP PA01 – Volume of Business Declaration
- OGP PA02 – Request for Provisional Municipal License
- OGP PA03 – Request for Extension to file the Volume of Business Declaration
One of the most notable changes is the elimination of the requirement for notarized signatures on the New OGP Forms.
The Prior OCAM Forms may still be used for the 2025-2026 tax period if taxpayers comply with current requirements in the law. Use of the New OGP Forms will be required starting with fiscal year 2026-2027. Taxpayers should thoroughly examine the updated forms and accompanying instructions, which for now are available only in Spanish.
2025-2026 VOB Declaration and Extension Filing Dates
The 2025-2026 VOB Declaration must be filed on or before April 23, 2025, five (5) business days after the April 15th deadline to file the Puerto Rico income tax return with PR Treasury, as provided in Municipal Administration Regulation 8873.
The automatic six-month extension period to file the VOB Declaration lapses on October 23, 2025, and on December 23, 2025 for taxpayers who are holders of tax incentives grants issued under the Puerto Rico Incentives Code or similar laws. Taxpayers outside of Puerto Rico may be eligible for an additional extension of up to three (3) months.
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