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The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
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Tax Alert
Personal Property Estimated Tax payment – first quarter of 2020 extended
11 Aug 2020On August 5, 2020, the Municipal Revenue Collection Center or “CRIM” (for its Spanish acronym), issued Administrative Order 2020-12 (“AO 20-12”) with the purpose of extending the payment term for the first quarter of personal property estimated tax from August 17 until September 15, 2020.
Under the vested authority by Act Num. 80-1991, as amended, to the Governing Board of CRIM and the Executive Director, the CRIM extended the due date for filing the Personal Property Tax Return for year 2019 to August 3, 2020. Moreover, due to the passage of Tropical Storm Isaías, during July 29 and 30, the due date to file the return or the extension request was extended until August 7, 2020. Since the return data is necessary for the personal property estimated tax computation for year 2020, the CRIM enacted the following:
- extend the term for the payment of the first quarter of personal property estimated tax for the economic year 2020, pursuant to the Article 6.05(h)(1) of the Act Num.83-1991, until September 15, 2020.
- the other terms for the payment of estimated tax for the second (November 16, 2020), third (February 15, 2021) and fourth (May 17, 2021) quarter remain the same.
The extension granted through this Order is circumscribed to the economic year 2020.
We are committed to keep you up to date with all tax-related developments. Please contact our Tax Department should additional information is required regarding this or any other tax issue. We will be glad to assist you.
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