Puerto Rico: Paying estimates of personal property taxes electronically

Paying personal property taxes electronically

Guidance issued last week concerns the requirements for electronic payments of estimates of personal property taxes in Puerto Rico.

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Background

A law enacted in 2013 in Puerto Rico—Act 136 (November 26, 2013)—was intended to facilitate the payment of personal property taxes by providing a system for making estimated tax payments.

The subject taxes are to be paid via the “municipal revenue collection center” (CRIM by its Spanish acronym) along with a filed Form BC-85-ES, Personal Property Estimated Tax Payment Voucher.

CRIM guidance

CRIM released Circular Letter 2015-01 (January 21, 2105) to provide the requirement for electronic payments of estimates of personal property taxes for eligible taxpayers.

These rules are effective immediately.

Affected taxpayers

Taxpayers who were required to e-file their tax year 2013 return and were required to make payments of estimated taxes must pay estimates of personal property taxes via electronic means, using one of three methods:

  • Via the CRIM’s website
  • By wire transfer
  • By means of ACH credit

New taxpayers or taxpayers not subject to electronic payment of estimated taxes may nevertheless elect to remit payments of estimated personal property taxes by electronic means or may make such payments at one of nine CRIM regional offices, at the CRIM central offices or by mail.

Payments are to be remitted along with the filing of Form BC-85-ES. The form is available on the CRIM website (Spanish).

Electronic payment guidance

  • Register via the CRIM’s website - Taxpayers who registered via the CRIM website and e-filed their 2013 personal property return, may use the same registration to pay their estimated taxes. Taxpayers who were not previously registered, must register using the CRIM website to make their estimated tax payments.
  • Wire transfer or ACH credit - Taxpayers choosing to pay their estimated taxes via wire transfer or ACH credit, will have to obtain CRIM bank details. Also, taxpayers when making a payment must provide their taxpayer identification number (e.g., social security number or employer identification number) and indicate the period for which the payment is being made.
 
For more information, contact a tax professional with KPMG in Puerto Rico:

Rolando Lopez | +1 (787) 756-6020 | rlopez@kpmg.com

Carlos Molina | +1 (787) 622-5311 | cmolina@kpmg.com

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