On 23 March 2021, the Puerto Rico Treasury Department (PRTD) has issued Administrative Determination No. 21-04 extending the due date for income tax returns and tax payments due to the ongoing COVID-19 pandemic.

As a general rule, individuals, trusts, estates, corporations, and other legal entities have the obligation to submit the income tax return no later than the 15th day of the fourth 4th month following the closing of the taxable year. Taxpayers who file their returns based on a calendar year (ended on 31 December) are required to submit the return for the taxable year 2020 on or before 15 April 2021.

PRTD has extended the due date to submit the return and pay any balance of tax due for taxable year 2020 to 17 May 2021 instead of 15 April 2021.

Any entity that requires additional time to submit the return for the taxable year 2020 will have until 17 May 2021 to submit an automatic extension request. Said extension request will have a term of 6 months as of 17 May 2021. The extension request allows to extend the filing deadline date but does not extend the payment date.

All individuals eligible to pay the income tax determined in the 2020 taxable year return in two installments, may pay the first installment with the filing of said return no later than 17 May 2021 and the second installment no later than 17 November 2021.

Moreover, in the case of taxpayers required to make the payment of the first installment of the estimated tax for the taxable year 2021 on or before 15 April 2021, the Department determines to postpone the deadline for the said term until 15 June 2021. Therefore, all taxpayers who take advantage of this postponement must pay both the amount of the first installment and the second installment of the estimated tax of the year 2021 no later than 15 June 2021.