Puerto Rico Receipt and Acceptance of Goods
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How to fill out Receipt And Acceptance Of Goods?
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FAQ
The Puerto Rico Sales and Use Tax (SUT, Spanish: Impuesto a las Ventas y Uso, IVU) is the combined sales and use tax applied to most sales in Puerto Rico.
Puerto Rico has a statewide sales tax rate of 10.5%, which has been in place since 2006. Municipal governments in Puerto Rico are also allowed to collect a local-option sales tax that ranges from 1% to 1% across the state, with an average local tax of 1% (for a total of 11.5% when combined with the state sales tax).
If you're a bona fide resident of Puerto Rico during the entire tax year, you generally aren't required to file a U.S. federal income tax return if your only income is from sources within Puerto Rico.
Consequently, while all Puerto Rico residents pay federal taxes, many residents are not required to pay federal income taxes. Aside from income tax, U.S. federal taxes include customs taxes, federal commodity taxes, and federal payroll taxes (Social Security, Medicare, and Unemployment taxes).
Sales or transfers of taxable goods and services will be subject to a 16% VAT.
As a general rule, the 11.5 percent import use tax is applicable to goods imported into Puerto Rico by any importer of record of such goods, except items introduced by postal service or air carrier, which shall be paid before the taxpayer takes possession of the article.
Puerto Rico is part of the U.S. Customs territory and therefore no customs duties are assessed on products coming from the mainland United States. There is, however, a 11.5 percent excise tax (sales tax) applied on products imported into the island, as well as on those produced locally.
The Puerto Rico Sales and Use Tax, or the "Impuesto a las Ventas y Uso (IVU)" in Spanish, consists of a 10.5% commonwealth-wide sales and use tax and a 1% local-option sales tax that is distributed to the city in which it is collected.
Sales or transfers of taxable goods and services will be subject to a 16% VAT. The following transactions will be subject to a 0% VAT: Exportations of tangible personal property.
