Puerto Rico Updates Form 480.6A, Informative Return – Income Not Subject to Withholding

The Departamento de Hacienda (Department of the Treasury”) of Puerto Rico has published the 2018 version of Form 480.6A, “Informative Return – Income Not Subject to Withholding.”’

There are new boxes under the “Payer’s Information” Section, inserted between “Address” and “Bank Account Number”:

  • Special Contribution for Professional and Advisory Service sunder Act 48-2013
  • “Reimbursed Expenses”
  • “Responsibility of Payment to Health Providers”

There are new boxes inserted between “Debt Discharge” (Box 9) and “Other Payments” (now Box 15)

  • Box 10: “Insurance Premiums Paid”: Used to note the total amount paid for property, contingency and public liability insurance directly related to your industry or business operation.
  • Box 11: “Telecommunications Services Paid”: Records the total amount paid for telecommunication services, as defined in Section 4010.01(kk) of the Code, directly related
  • to your industry or business operation.
  • Box 12: “Advertising Paid”: Indicates the total amount paid for advertising, publicity and marketing directly related to your industry or business operation
  • Box 13: Payments for Internet and Cable or Satellite Television Services”: Reports the total amount paid for internet access service and cable or satellite television services directly related to your industry or business operation
  • Box 14: “Royalties”: Reports the amount paid for the use or privilege of using an intangible asset such as patents copyrights, goodwill, franchises, licenses or other property of similar nature

These boxes are optional for Tax Year 2018 but will be mandatory from Tax Year 2019 onwards.

The instructions have been expanded to provide guidance regarding the above boxes.

To view the form in full, please follow the link.

Author

Nicolette Chasse

Nicolette Chasse is a Junior Regulatory Counsel at Sovos Compliance. Her main areas of focus are Automatic Exchange of Information (AEOI) reporting under FATCA and CRS and 1099 Federal Withholding Reporting. Nicolette received her B.A. at Trinity College and her J.D. at Penn State’s Dickinson School of Law. She is a member of the Massachusetts Bar.
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