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Puerto Rico Treasury: No need to reprogram for prepared food tax exemption

By on September 8, 2017

Treasury Secretary Raúl Maldonado (CB file photo)

SAN JUAN – Puerto Rico Treasury Secretary Raúl Maldonado Gautier issued a statement Friday to explain that the temporary exemption of the sales and use tax (IVU by its Spanish acronym) on prepared food doesn’t require businesses to reprogram their point-of-sales terminals and that businesses will not be penalized if the IVU shows up on receipts as long as it was not charged.

Public Ruling 17-09, issued by the Treasury Department, establishes the exemption of IVU payment for prepared foods until 11:59 p.m. Sunday. This applies to restaurants, cafes and other establishments that sell prepared food.

Puerto Rico Treasury: Businesses must remit sales tax every 2 weeks

Treasury defined prepared food as that with “several ingredients combined for human consumption.”

Gov. Ricardo Rosselló said the contingency measure will benefit the more than 900,000  Puerto Rico Electric Power Authority (Prepa) customers who have yet to have their service restored after it was interrupted by Hurricane Irma winds Wednesday.

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