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Puerto Rico Department of Treasury consolidating two forms into one

What is happening

Beginning November 1, 2021 (effective for the October 2021 filing cycle), the Puerto Rico Department of the Treasury has released a new Sales and Use Tax and Tax on Imports Monthly Return (Form AS 2915.1). This form consolidates both Tax on Imports Monthly Return with the Sales and Use Tax Monthly Return.  

While taxpayers will still be required to electronically pay Declarations of Imports (form AS 2970.1) as required by the state, the declarations and associated reports will now automatically populate as a credit on the New Monthly SUT Return.

Review the attached bulletin from the Puerto Rico Department of Treasury for details.

Environment

Avalara Returns

What you need to do

If your company files a Tax on Imports Monthly Return (Form AS 2915.1D), starting November 1, 2021, you will no longer need to submit this return separately on SURI (Internal Revenue Integrated System). Taxpayers will only have to file the New Monthly SUT Return electronically through SURI  instead of both the Imports Return and the SUT Return.

  1. Set up the state level PR Puerto Rico return in AvaTax. (If this is already set up for your company, skip this step.) See this Help Center article for assistance: Set up Returns for Small Business with AvaTax.
  2. Between the 5th to the 10th of the filing month, review your PR Scheduled Return and enter the total amount of declaration payments into the Tax Import Credit field so the return can be filed with your credit reflected accurately. See this Help Center article for assistance: Add adjustments to the liability summary.

Note: If your company does not add this credit, and you have made declarations payments to Puerto Rico, the amount that you approve and the return that valara submits may not match, and Avalara's payment (for your approved amount) may generate an additional credit with Puerto Rico.