Puerto Rico Revises Forms for Sales and Use Tax on Imports

Sovos
October 9, 2014

Puerto Rico Revises the Title of the Forms to Report and Declare the Sales and Use Tax on Imports Yesterday, October 8, 2014, the Treasury Department of Puerto Rico (the Hacienda) issued Tax Policy Informative Bulletin 14-02, wherein the Hacienda provided that in order to avoid confusion among merchants and importers at the time they complete the Forms related to Sales/Use Tax payment on imports, the Department has decided to change the names of Form AS 2970.1 and AS 2915.1D. Form AS 2970.1, previously titled “Declaration of Imports for Use”, is hereinafter titled “Declaration of Imports”. Form AS 2915.1D, previously titled “Use Tax on Imports Monthly Returns”, is hereinafter titled “Tax on Imports Monthly Return”. The Hacienda further provided in Bulletin 14-02 that any previously issued Department publication or statement is deemed to be amended to account for the foregoing changes. As a reminder, Form AS 2970.1 is used to declare the goods imported to Puerto Rico. Form AS 2915.1D is used for reporting the use tax due on imported goods that were cleared from Customs without payment of the use tax on imports. Both Forms should be filed on-line through the PICO system of the Treasury Department of Puerto Rico, accessed at: https://comerciantes.hacienda.pr.gov. For more information and updates: To keep you updated, we’ve created a Puerto Rico “Hub” that houses the most up-to-date information we have been able to gather.  This Hub offers access to:

Click here to visit Taxware’s Puerto Rico Hub.

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Sovos

Sovos is a global provider of tax, compliance and trust solutions and services that enable businesses to navigate an increasingly regulated world with true confidence. Purpose-built for always-on compliance capabilities, our scalable IT-driven solutions meet the demands of an evolving and complex global regulatory landscape. Sovos’ cloud-based software platform provides an unparalleled level of integration with business applications and government compliance processes. More than 100,000 customers in 100+ countries – including half the Fortune 500 – trust Sovos for their compliance needs. Sovos annually processes more than three billion transactions across 19,000 global tax jurisdictions. Bolstered by a robust partner program more than 400 strong, Sovos brings to bear an unrivaled global network for companies across industries and geographies. Founded in 1979, Sovos has operations across the Americas and Europe, and is owned by Hg and TA Associates.
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