Puerto Rico further extends due dates for certain tax ...

1 Puerto Rico s Treasury Department (PRTD) issued Information Bulletin 17-21 (IB 17-21) to extend the due date for filing certain returns and making tax payments due to hurricane Maria. The PRTD also suspended (Administrative Determination (AD) 17-15) biweekly payments of sales tax from 1 September 2017 to 30 November 2017 for those not considered large , IB 17-21 provides a 30-day extension for taxpayers to submit to the PRTD documents and other information that may have been requested in the context of tax audit examinations and other similar not considered large taxpayersFor taxpayers that are not considered large taxpayers, the PRTD extended the due dates for all tax returns, statements and corresponding payments due from 19 September 2017 to 20 October 2017 for an additional 20 days following the due dates . The same extension applies to all tax payments and deposits due from 19 September 2017 to 20 October , the PRTD extended all tax returns, statements and tax payments originally extended by Circular Letter (CL) 17-13, IB 17-17 or IB 17-18 for an additional 20 days from the date indicated in those the 20-day extension, taxpayers may file the Import Declaration (Form 2970), the Monthly Tax Return for Imports (Form 2915 D), and the Monthly Sales and Use Tax Return (Form 2915)

2 Or pay the sales and use tax 9 October 2017 Global Tax AlertNews from Americas Tax CenterPuerto Rico further extends due dates for certain tax filing and payment obligations because of hurricane MariaEY Global Tax Alert LibraryThe EY Americas Tax Center brings together the experience and perspectives of over 10,000 tax professionals across the region to help clients address administrative, legislative and regulatory opportunities and challenges in the 33 countries that comprise the Americas region of the global EY into your web browser: Tax Alert Americas Tax Centerat any time through the Unified Internal Revenue System (SURI). Under AD 17-15, however, taxpayers do not have to make biweekly payments of sales tax for tax periods from 1 September 2017 to 30 November 2017. Instead, taxpayers must pay the sales tax no later than the 20th day of the month following collection of the sales tax or the date provided by IB 17-21.

3 Beginning with the 1 December 2017 tax period, taxpayers must resume biweekly payments of sales taxpayersFor large taxpayers, the 20-day extension applies to all tax returns, statements and payments , except for transactions conducted through SURI for sales and use tax due in September and October 2017, including: (1) the filing of the Monthly Tax Return for Imports (Form 2915 D) and the Monthly Sales and Use Tax Return (Form 2915); and (2) the biweekly payment of sales and use tax. The PRTD extends the due dates for those transactions for an additional seven days from the due dates established in CL 17-13, IB 17-17 and IB , the 20-day extension does not apply to the payments of the 4% excise tax on acquisitions of certain personal property and services that were due in August and September and for which extensions were granted until 6 October 2017 and 20 October 2017 dates are extended as follows:FormsOriginal due date extended due date Circular Letter 17-13 extended due date Information Bulletin 17-18 extended due date Information Bulletin 17-21SC 2225, SC 2222, ,2 SC 2915 D10 Sept.

4 201718 Sept. 2017N /AN /A10 Oct. 2017N /AN /A17 Oct. 2017 (large taxpayers)30 Oct. 2017 (regular taxpayers) , , , ,3 ,4 , 499 R-1, SURI (first bimonthly payment of sales and use tax)15 Sept. 201722 Sept. 201727 Sept. 201717 Oct. 2017 (except for the first bimonthly payment of sales and use tax that is postponed until tax period Dec-2017 by AD 17-15)15 Oct. 2017N /AN /A6 Nov. Sept. 201722 Sept. 201727 Sept. 20176 Oct. 201713 Oct. 2017N /AN /A20 Oct. , , (II)15 Sept. 201729 Sept. 2017N /A19 Oct. 201715 Oct. 2017N /AN /A6 Nov. 2017SC 2915, Monthly Sales and Use Tax Return20 Sept. 201720 Sept. 201727 Sept. 20174 Oct. 2017 (large taxpayers)17 Oct. 2017 (regular taxpayers)20 Oct. 2017N /AN /A27 Oct. 2017 (large taxpayers)9 Nov. 2017 (regular taxpayers)SURI (second bimonthly payment of sales and use tax)2 Oct. 20172 Oct. 2017N /ABimonthly payment of sales tax suspended until tax period Dec-2017 by AD 17-15 (regular taxpayers)9 Oct.

5 2017 (large taxpayers)Global Tax Alert Americas Tax Center3 Information requested by the PRTDWith the exception of taxpayers who have received an information request through Form 6048, Information Request for Tax Credits Reported on Form , the PRTD extended the deadline for providing any requested information, including information requested for audits, for 30 days following the due date established in the request. For audit correspondence, the 30 days is in addition to the five-day extension established in IB 17-16. The 30-day extension only applies to requested information with due dates in September and , the PRTD extended the deadline for documents requested through Form 6048 for two weeks beginning from the issuance date of IB 17-21. The extension is independent of the due date established in the request or AD 17-10 and AD rehabilitation planThe PRTD will not impose fines, interest and penalties for any non-compliance with a payment plan established under CL 17-05 from 1 September 2017 to 31 December 2017.

6 The PRTD also will not impose fines, interest and penalties for payment plans entered into before 1 September 2017 that were established under provisions different from those in CL who have received a notification of the imposition of fines, interest and penalties should notify the Center for Taxpayer Services to request the fines, interest and penalties be eliminated. If the PRTD has debited amounts for noncompliance with a payment plan, those amounts will be applied to the amount of the taxpayer s debt or rightsTaxpayers who have payments due in September or October to renew licensing rights will not have to renew during that time. Instead, the licensing rights will be provisionally extended for a period of two months from the payment due date. Once that period expires, taxpayers should renew the licenses and make the applicable payments .

7 The PRTD will retroactively authorize the license to the original due date for the payment of the licensing PRTD has extended several due dates to file certain returns and make certain payments due to the impact of hurricane Maria in Puerto Rico. Although in most cases the PRTD has granted 20 additional days from the original or the extended due date, it is important to bear in mind that in the case of certain taxpayers, such as large taxpayers, there are instances in which the PRTD has granted only seven additional days. For example, the second biweekly SUT deposit for the month of September, which was originally due on 2 October 2017, has been extended until 9 October summary table is intended to show the original and extended due dates corresponding principally to the filings of the months of August and September. However, it also shows the extended due dates for income tax returns that were due in September or are due in October ( , 30 June year-end returns due on 15 October).

8 Endnotes1. For more information on CL 17-13, see EY Global Tax Alert, Puerto Rico extends due dates for certain tax filing and payment obligations due to hurricane Irma, dated 12 September 2017. For more information on IB 17-17 or IB 17-18, see EY Global Tax Alerts, Puerto Rico issues additional guidance regarding extension of due dates for certain tax filing and payment obligations due to hurricane Irma, dated 15 September 2017 and Puerto Rico further extends due dates for certain returns and tax payments because of hurricane Maria, dated 19 September Deposit of income tax withholding on services Includes various deposit obligations related to payments of dividend distributions, interest and 10% penalty on withdrawals from Individual Retirement Accounts (IRA).4. Includes various deposit obligations related to payments of judicial or extrajudicial payments and estimated tax payments on the distributable share to partners on the income of partnerships, special partnerships and corporations of Tax Alert Americas Tax CenterFor additional information with respect to this Alert, please contact the following:Ernst & Young Puerto Rico LLC, State and Local Taxation Group, San Juan Rosa M.

9 Rodr guez +1 787 772 7062 Pablo Hymovitz Cardona +1 787 772 7119 Mar a T. Riollano +1 787 772 7077 Luz Grycell Rivera +1 787 772 7188 Alberto Rossy +1 787 772 7084 | Assurance | Tax | Transactions | AdvisoryAbout EYEY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

10 For more information about our organization, please visit Americas Tax Center 2017 EYGM Limited. All Rights no. 05729-171 Gbl1508-1600216 NY ED NoneThis material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific