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Puerto Rico Announces COVID-19 Tax Measures

02/04/2020

On March 23, 2020, the Government of Puerto Rico announced a package of measures to mitigate the economic impact of the COVID-19 virus, including tax relief.

According to the Government's announcement, these tax relief measures include the following:

  • The deadline for income tax payments is extended to July 15, 2020;
  • The collection of sales and use tax (IVU) at docks and in the resale chain is suspended for three months;
  • The collection of the 10 percent withholding tax on professional services is suspended for three months;
  • Penalties for non-compliance with the fortnightly IVU filing requirements are suspended for two months; and
  • Penalties for failure to pay the first installment of estimated tax are suspended for two months.

Source: Pride Partners International