This blog was last updated on June 27, 2021
As result of the passage of Law 72-2015, the indirect tax system of the Commonwealth of Puerto Rico is undergoing a remarkable transformation which is taking place over three distinct stages, culminating with a new Value Added Tax scheduled which will go into effect on April 1, 2016. Last week, our Tax Experts, Ramon Frias and Elizabeth Quintana, discussed the recent changes in Puerto Rico’s tax system. During this 60 minute webinar our team covered:
- Provide an overview of the most critical changes to the sales and use tax of the island (IVU) contemplated by the new legislation
- Examine the basic features of the upcoming VAT (locally known as IVA)
- Discuss in detail what taxpayers will need to know to remain compliant
- Review administrative adjustments made by Puerto Rico to their filing and remittance process
In case you missed it, the presentation is now available! Click here to watch the presentation.