Tax Reform of Puerto Rico

Over the last few years, Puerto Rico has undergone a number of changes. From changing form names in October of 2014 to the most recent update, a three phase process that will result in a new Value Added Tax schedule, Puerto Rico has kept their tax payers scrambling to keep up.

While others may have overlooked these changes, the Tax Experts at Sovos Compliance have remained on top of the issue since day one, providing our clients with frequent informational blog posts, webinars and documents to ensure that they are prepared and able to remain compliant.

This page is dedicated to making sure our clients and visitors are up to date with the changes Puerto Rico continues to make. This month, our featured resource is our most recent webinar where our Tax Experts, Ramon Frias and Elizabeth Quintana, discussed the three phase change currently taking place in Puerto Rico’s tax system that will culminate in April 2016.

In our 60 minute featured session Ramon and Elizabeth cover:

  • An overview of the most critical changes to the sales and use tax of the island (IVU) contemplated by the new legislation
  • The basic features of the upcoming VAT changes (locally known as IVA)
  • What taxpayers will need to know to remain compliant
  • Administrative adjustments made by Puerto Rico to their filing and remittance process

View Slides

 

Additional Resources:

2014 Webinar Slides

Read more about tax changes in Puerto Rico: