On June 6, 2014, Puerto Rico’s Tax Department (Hacienda) issued News Bulletin 14-07 announcing modifications to their sales and usage tax (IVU) collection process for all imported goods to Puerto Rico, effective August 1, 2014. The changes are aimed to facilitate the collection, payment, and bond application procedures.
According to a press release by the Office of the Secretary, the implementation will be divided in two phases: 1) Modernization of the Declarations and Payment and 2) Updating the electronic manifest transmission or Automated Manifest System (AMS).
During the first phase, the tax department will work on the following:
- Update the declaration process
- Assist tax payers with the payment of the IVU tax
The second phase will focus on the following:
- Update the electronic manifest transmission or AMS
- Integrate all the changes that occurred during the first phase
Once the changes have been implemented, payments will be accepted and confirmed online. The tax department is currently working on improving the current systems to accommodate the new process.
There will be a press conference for questions at the end of June, as well as an orientation to address details about time frames, forms, and general procedures of payment and document submission. After the completion of both phases, the Hacienda will publish a Circular establishing the new requirements for AMS transmissions.
Expeditors will continue to monitor the situation and provide specific information once available.
The bulletin can be accessed here
