As reported in our July 1, 2014 Tax Alert, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 14-02 (“CL 14-02”) establishing the sales and use tax (“SUT”) holidays for uniforms and school supplies for fiscal year 2014-2015 and identifying the items exempt from the SUT during those days.
Pursuant to CL 14-02, the upcoming SUT holidays for uniforms and school supplies shall run from 12:01 a.m. on January 16, 2015 until midnight on January 17, 2015. The list of items exempt from the SUT during the SUT holiday, is available here.
The content of this McV Alert has been prepared for information purposes only. It is not intended as, and does not constitute, either legal advice or solicitation of any prospective client. An attorney-client relationship with McConnell Valdés LLC cannot be formed by reading or responding to this McV Alert. Such a relationship may be formed only by express agreement with McConnell Valdés LLC.
