Form As 2915.1 - Sales And Use Tax Monthly Return - Puerto Rico Department Of The Treasury Page 5

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Form AS 2915.1
Rev. Sep 30 14
Instructions - Page 4
Line 19(d) – Amount of Credit Used in this Return
Line 29 – Total Amount Due
Enter the smaller of line 19(c) or 75% of line 17.
Add lines 25 through 28 and enter the total on this line.
Line 20 – Tax Liability Net of Credits
Line 30 – Carryover Credit from Sale of Merchant’s Property
Subtract lines 18(e) and 19(d) from line 17 and enter the result here.
If the credit exceeds the sales and use tax to be paid in the corresponding Sales and
Use Tax Monthly Return, such excess may be carried over to subsequent Sales and
Line 21 – Sales Tax of Merchants Who Do Not Have Commercial Location in
Use Tax Monthly Returns, until totally used.
Puerto Rico or Multilevel Businesses
Enter on this line the result of line 15(c) less line 15(d).
In case of merchants required to collect and pay the SUT pursuant to Sections
4020.04, 4020.05 and 4041.02 of the Code, who do not have a commercial location
Line 31 – Carryover Credit from Bad Debts
in Puerto Rico, including multilevel businesses, will be responsible to collect and pay
the Secretary the 6% state and 1% municipal SUT.
If the credit exceeds the sales and use tax to be paid in the Sales and Use Tax
Monthly Return, such excess may be carried over to subsequent Sales and Use Tax
Multiply line 3(b) by 1% and enter the total.
Monthly Returns, until totally used.
Line 22 – Tax Due
Enter on this line the result of line 16(c) less line 16(d).
Add the amounts from lines 20 and 21 and enter the total on this line.
Line 32 – Carryover Credit for Taxes Paid by Importer Merchant
Line 23 – Credit for Payments in Excess from Prior Periods
If the credit exceeds the sales and use tax to be paid in the Sales and Use Tax
Monthly Return, such excess may be carried over to subsequent Sales and Use Tax
Enter the amount paid by a merchant in the Sales and Use Tax Monthly Return from the
Monthly Returns, until totally used.
previous period in excess of the amount established by the Code. Such amount will not
include the amounts not claimed related to the credits of lines 15, 16, 18 and 19.
Enter on this line the result of line 18(d) less line 18(e).
Line 24 – Deposits Made During the Period
Line 33 – Carryover Credit for Taxes Paid by Reseller Merchant
Indicate the total amount of SUT deposits made during the period for which this return
If the credit exceeds the sales and use tax to be paid in the Sales and Use Tax
is being filed.
Monthly Return, such excess may be carried over to subsequent Sales and Use Tax
Monthly Returns, until totally used.
Line 25 – Balance of Tax Due
Enter on this line the result of line 19(c) less line 19(d).
Enter on this line the result of line 22 less lines 23 and 24. The result cannot be less
than zero.
Line 34 – Amount of Taxes Paid in Excess
Line 26 – Interest
Enter the excess, if any, of lines 23 and 24 over line 22.
If the SUT is not paid on or before the twentieth (20th) day of the month following the
RETURNED CHECKS
month during which the transaction subject to said tax occurred, an interest calculated
at an annual rate of 10% from the twentieth (20th) day of the month to the date when
Every returned check drawn on behalf of the Secretary of the Treasury, will be
the payment is made must be included.
subject to a $25.00 minimum charge. This charge is in addition to any other interest,
surcharges and penalties provided by the Code or any other fiscal law for omissions
Line 27 – Surcharges
in fulfilling your tax responsibility. The Department will make the collection in a traditional
or electronic manner.
In all cases where the payment of interest is applicable, a surcharge equivalent to 5% of
the total unpaid amount shall also be charged if the delay in payment exceeds 30 days, but
REQUIREMENT TO KEEP DOCUMENTS
not 60 days, or 10% of the total unpaid amount if the delay exceeds 60 days.
All merchants shall maintain in Puerto Rico, for a period not shorter than six (6) years,
Line 28 – Penalties
all the information that serves as evidence of the taxable items received, used, sold,
distributed, stored, or leased by said merchant, such as invoices, shipping documents,
A progressive penalty shall be imposed for not filing this return or for filing the return
collections for said sales, and any other document that the Secretary could request.
after the due date provided by the Code, unless you demonstrate that such omission
is due to a reasonable cause and not to voluntary neglect. If the omission does not
Furthermore, all merchants shall maintain, for a period no shorter than six (6) years,
exceed 30 days, 5% shall be added to the SUT balance, and an additional 10% shall
accounting books, papers, documents, and any other evidence related to their sales
be added for each additional 30 day period or fraction thereof while the omission
and to the amount of the collected and deposited sales tax. The documents and
continues to exist, without exceeding 25% in total.
information to be maintained include, but are not limited to, statements, invoices,
commercial receipts, canceled checks, payment receipts, and exemption certificates.
Also, any person required to file the Sales and Use Tax Monthly Return who fails to
file the Return required by Section 4041.02 of the Code, in the form, date and manner
NOTICE TO SPECIALISTS
therein established, shall be subject to a penalty of one hundred (100) dollars or ten
(10) percent of the tax liability established in such return, whichever is higher.
All tax return specialists who prepare SUT returns are required to file them electronically
on behalf of their clients. The system will require for you to enter your name and
Likewise, any person who in violation of the provisions of Section 4042.03, fails to
specialist registration number assigned by the Department. The Code provides
remit the sales and use tax in the form and on the time therein established, shall be
administrative fines and penalties for specialists who do not provide such information
subject to a penalty of no less than twenty-five (25) percent nor more than fifty (50)
or do not comply with any other of the requirements established by the Code.
percent of the determined insufficiency.

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