Puerto Rico is in a lockdown due to the COVID-19 crisis. As a result, the Puerto Rico Treasury Department (“PRTD”) and other government entities have announced the postponement of various tax filing, payment, and compliance due dates for the months of March and April 2020.
Following are the new due dates for tax filing and compliance:
|Type of Form||New Due Date|
|Income Tax Return (Corporate, Partnership, and Individual)||July 15, 2020|
|Monthly Sales & Use Tax Return* (Due in February, March, April, and May 2020)||April, May, June and July 20, 2020, respectively|
|Municipal Monthly Sales & Use Tax Return (Due in March 2020)||April 20, 2020|
|Bonds with the PRTD (Due March 15, 2020 through April 30, 2020)||May 31, 2020|
|Internal Revenue Permits & Licenses (Due March 15, 2020 through April 30, 2020)||May 31, 2020|
|Volume of Business Declaration**||May 22, 2020|
* The PRTD will not impose penalties for non-compliance with the bi-weekly SUT payments corresponding to the months of March, April, May and June 2020, as long as the total SUT due for said months is paid together with the filing of the monthly SUT return for each period.
** A request for extension of time to file a Volume of Business Declaration must also be filed on or before May 22, 2020. Any company that wishes to benefit from the 5% discount will have until May 22, 2020 to pay the total amount of the Municipal License Tax due and file the Declaration or the Extension Request.
State Insurance Fund Corporation (“Fondo”) – flexible procedures at the Fondo to assist employers during the coronavirus crisis.
• Policies that expire in March are extended until April 30, 2020
• The employer is exempted from formalizing and paying their policy up to 10 days after the Fondo resume its operations.
The Puerto Rico Department of State has also announced the postponement of the 2019 Corporate Annual Report filing. All Annual Reports and Limited Liability Companies' annual fees are now due in May 15, 2020 instead of the original April 15, 2020 due date.
Government guidelines and procedures are constantly changing due to the COVID-19 crisis. Thus, the above new dates may change or be postponed.
Jimenez, Graffam & Lausell will continue to work remotely during this time. Please contact us should you require additional information regarding this or any other tax issue. We will be glad to assist you.