Deloitte Tax LLP Puerto Rico Tax Alert July 2014 CIRCULAR LETTER 14-04: NEW INTEGRATED MERCHANT WEBSITE (PICO) The Puerto Rico Treasury Department issued Circular Letter 14-04 (CL 14-04) to inform Merchants of the requirement to register at the new Integrated Merchant Website (PICO) in order to declare, file and pay the Sales and Use Tax (SUT). Integrated Merchant Website (PICO) PICO is the new electronic application to be used by Merchants to perform transactions related to the SUT. PICO can be accessed through the Puerto Rico Treasury Department’s website www.comerciantes.hacienda.pr.gov. The following transactions must be performed through the application:    Electronic filings of the following forms and their corresponding payments: 1. Use Tax Declaration for the Release of Imported Personal Property (Form SC 2970); 2. Monthly Use Tax on Imports Return (Form SC 2915D); and, 3. Monthly Sales and Use Tax Returns (Form SC 2915A). Access filing and payment history. Other transactions - verify Merchant’s Registration Number and access code (PIN); complete and file Merchant Registry Applications (Form SC 2914); and, complete IVU Loto registration. Merchant’s Profile Merchants need to create a personal profile using a username and a password. Afterwards, the merchant must enter basic information such as Employer’s Identification Number, Merchant’s Registry Number and Access Code (PIN). Only information for one locality is necessary. Merchants may authorize other users, such as Return Specialists and Authorized Representatives, to perform transactions within PICO on their behalf. Use Tax Declaration for the Release of Imported Personal Property (Form SC 2970) Beginning on August 1, 2014, the Use Tax Declaration for the Release of Imported Personal Property must be filed and pay electronically, in order to obtain the release of the property. Bonded Merchants may obtain release of the property introduced into Puerto Rico once the declaration is filed in PICO. CL 14-04 also established that the Monthly Sales and Use Tax return will not be file by locality but by Merchant. Registration Requirement The provisions set forth by CL 14-04 are effective immediately, and all Merchants that introduce property into Puerto Rico and that are required to file the Use Tax Declaration for the Release of Imported Personal Property, must register in PICO no later than July 31, 2014. While reasonable care has been taken in the preparation of this document, it is not a substitute for obtaining qualified tax advice. Deloitte accepts no responsibility for any errors this publication may contain, whether caused by negligence or otherwise, or for any loss, however caused, sustained by any person who relies on it. If you have any doubts or need to discuss in detail, please contact us at +1 787 759 7171. Francisco A. Castillo, CPA, Managing Partner +1 787 282 5308 Roberto Solá, CPA, Senior Manager +1 787 282 5303 Marcos Morla, CPA, Manager +1 787 282 5372 Ricardo Villate, CPA, Director +1 787 282 5370 María Otero, CPA, Senior Manager +1 787 282 5337 Arturo Román, CPA, Manager +1 787 773 3795 Michelle Corretjer, CPA, Director +1 787 282 5371 Harry Márquez, CPA, Senior Manager +1 787 282 5383 Candice Lubbers, CPA, Manager +1 787 282 5386 As used in this document, “Deloitte” means Deloitte Tax LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Deloitte.com | Security | Legal | Privacy 1633 Broadway New York, NY 10019-6754 United States Copyright © 2013 Deloitte Development LLC. All rights reserved. Member of Deloitte Touche Tohmatsu To unsubscribe, reply to this message and add “Unsubscribe” in the subject line. Deloitte RSS feeds