Newsletter:

Tax Events - July 2019

July 17 2019

July 1

Last day to submit the 2018 Annual Report for the Sales and Use Tax (SUT) Non-Withholding Agents pursuant to the extension and provisions included in Informative Bulletin 19-03 unless, as provided for by DA 19-02 issued on July 11, 2019, the Non Withholding agent complies with the 2018 quarterly informative statement filings due April 30, 2018; July 31, 2018; October 31, 2018, and January 31, 2019.

First Installment of the 2019-2020 Municipal License Tax Declaration (Patente) payment without the 5% discount.  If payment was not made with extension request or final declaration (15 days grace period applies until July 15).

First installment 2019-2020 Real Property Tax (CRIM). Discount of 10% applies for prompt payment. (Electronic payment through crimpr.net or applicable commercial banks.

July 10

Use Tax on Imports Monthly Returns (Form SC 2915.1 D) for the month of June (Electronic filing through SURI online site).

Monthly Excise Tax Return and payment (Form SC 2225) (Electronic filing through SURI online site).

Last day to submit the Claim for the Refundable Tax Credit for Employee Retention after 2017 hurricanes pursuant to the second additional extension and provisions included in Informative Bulletin 19-07.*

July 12-13

Back to school free day of Sales and Use Tax from 11:59 p.m. Friday, July 12 through 11:59 p.m. Saturday, July 13, pursuant to Circular Letter 19-11.**

July 15

Electronic filing of the 2018 Corporate Annual Report.  Only for those who requested a 60 days extension plus the 30 days of additional extension.

Deposit of 10% or 6% of income tax withheld from payments made during June for services rendered (Payment Voucher 480.9A) (Electronic filing through SURI online site).

FICA monthly depositors, for the month of June (Form 941) (Electronic filing through EFTPS online site).

Income Tax Withholding Deposit, monthly depositors, for the month of June (Form 499 R-1B) (Electronic filing through SURI online site).

Chauffeurs Social Security 2nd quarter payment (Form TSCH-1).

Bi-monthly Sales and Use Tax Estimated Payments for those who are regarded as a Large Taxpayer pursuant to PR IRC Section 1010.01(a)(35); and whose average monthly SUT deposited during the previous calendar year exceeded $2,000. (Electronic filing through SURI online site).

Deposit of 4% monthly excise tax on foreign entities (Form 480.36).

Deposit of 29% tax withheld at source on payments to foreign persons in excess of $200 during the month of June (Form 480.31). (Electronic filing through SURI online site).

Deposit tax withheld at source on dividends, partnership profit distributions, interests and 10% penalty on IRA during the month of June (Form 480.9).

Deposit of Estimated Income Tax by Corporations (voucher 480. E-1) and Pass-through entities, Partnerships, Special Partnerships and Corporations of Individuals (voucher 480.9EC):

FISCAL YEAR

INSTALLMENT

July 31, 2019

4th Installment

October 31, 2019

3rd Installment

January 31, 2020

2nd Installment

March 31, 2020

1st Installment

July 22

Sales and Use Tax Monthly Return (Form SC 2915) for the month of June (Electronic filing through SURI online site).

Sales and Use Tax Monthly Municipal Return for the month of June (Electronic filing through SURI online site).

First Installment of the Annual Payroll to State Insurance Fund of Puerto Rico 2019-2020.

Payroll declaration for Workmen’s Compensation Insurance (CFSE 693).

July 31

Last day to file the new “Quarterly Return of Tax Withheld on Payments for Services Rendered” showing the payments made for professional services subject to PR income tax withholding pursuant to Section 1062.03 and the corresponding income tax withheld and remitted during the quarters ended March 31, 2019 and June 30, 2019, pursuant to the provisions of CC RI 19-10. (NEW Electronic filing through SURI online site and Form 480.6SP-1).   

Quarterly Returns (Q-2)

  • Form 499 R-1B Quarterly Report of Income Tax Withheld (Electronic filing through SURI online site).
  • PR Employer’s Quarterly Federal Tax Return FICA Quarterly Tax Return (941-PR) and FUTA Tax Return (940-PR).
  • Form PRSD 10 Declaration of Unemployment and Disability Insurance (Form PR-UI-10 and PR-UI-10A) (Electronic filing also available).

Affirmative Declaration of Transactional Accounts for applicable requests or extensions of credits approved by the financial business during the month of June.

Bi-monthly Sales and Use Tax Estimated Payments for those who are regarded as a Large Taxpayers pursuant to PR IRC Section 1010.01(a)(35); and whose average monthly SUT deposited during the previous calendar year exceeded $2,000 (Electronic filing through SURI online site).

Supplemental Schedules required pursuant to Act 163 of 2014 for corporations with year ended on August 31, 2018 (with six-month extension, pursuant to Administrative Determination 18-07).                

Supplemental Schedules required pursuant to Act 163 of 2014 for corporations with year ended on February 28, 2019, if Income Tax Return was filed in June.

Supplemental Schedules required pursuant to Act 163 of 2014 for Pass-Through Entities with fiscal year ended on September 30, 2018 (with six-month extension, pursuant to Administrative Determination 18-07).

Supplemental Schedules required pursuant to Act 163 of 2014 for Pass-Through Entities with year ended on March 31, 2019, if Income Tax Return was filed in June.

IMPORTANT

* BI RI 19-07 provides an additional extension over the one granted in BI RI 19-01 discussed in our Tax Events of March 2019 and April 2019.  BI RI 19-07 also provides for an additional extension until July 10, 2019, to submit any Claim to a timely-filed Original Application for the Refundable Tax Credit for Employee Retention after 2017 hurricanes pursuant to this Informative Bulletin.  The Original Application as well as the Claims must be made via the PR Treasury Department’s website at www.hacienda.pr.gov by clicking in the “Hacienda Virtual” icon.

** CC RI 19-11 Also provides for a second Back to school free day of Sales and Use Tax in the same way from Friday, January 3 through Saturday, January 4, 2020.