For taxable years beginning after December 31, 2012, every taxpayer required to include audited financial statements with the income tax return, in accordance to Section 1061.15 of the Puerto Rico Internal Revenue Code of 2011, as amended ("PR Code"), must submit supplemental information, underlying the financial statements and other records used to prepare the financial statements and submitted to the audit procedures applied in the audit of the financial statements made by a Certified Public Accountant ("CPA") with license to practice in Puerto Rico (the "Supplemental Information").
Section 1061.15 of the PR Code also establishes that the Supplemental Information must be submitted electronically, in the form of schedules containing the information required therein. For these purposes, the Puerto Rico Department of the Treasury (the “Department”) has established a tool known as the "Supplemental Information of the Audited Financial Statements Filing Tool", to allow taxpayers and their CPA to electronically submit the Supplemental Information.
The due date to file the Supplemental Information (together with the CPA’s opinion and Report) is the last day of the month following the due date to file the income tax return, including extensions. For example, Corporation ABC has a taxable year ending on December 31. ABC must file its Corporation Income Tax Return (the "Return") for the taxable year ended on December 31, 2013 by April 15, 2014 and has the option to request an extension of time to file the Return until July 15, 2014. ABC must electronically submit the Supplemental Information by August 31, 2014, regardless ABC requests an automatic extension of time to file the Return.
Notwithstanding the above, on August 11, 2014, the Department issued Administrative Determination No. 14-17 (“DA 14-17”) to extend the due date to submit the Supplemental Information corresponding to taxable year 2013 (“2013 Supplemental Information”). Pursuant to DA 14-17, the extended due date to file the 2013 Supplemental Information was determined to be sixty (60) days following the day in which the Department notifies the publication of the “Supplemental Information of the Audited Financial Statements Filing Tool”. On November 26, 2014, the Department notified, through Tax Policy Administrative Determination No. 14-28, the publication of the “Supplemental Information of the Audited Financial Statements Filing Tool”. Therefore, the 2013 Supplemental Information must be submitted on or before January 29, 2015.
Once the Supplemental Information is uploaded in the “Supplemental Information of the Audited Financial Statements Filing Tool”, a confirmation email will be sent for your records.
For additional information in connection with the Supplemental Information, you can refer to the Administrative Determination No. 14-06 or contact the General Consulting Section at (787) 722-0216, option 8.