On 12 August 2015, the Consumption Tax Transformation Alternatives Commission issued its report on the implementation of a value added tax (VAT) regime in Puerto Rico. The law for the implementation of VAT in Puerto Rico was signed 29 May 2015, but included the condition that its final implementation would depend on the findings of the Commission, which looked at alternatives to VAT.
In its report, the Commission states that implementing a VAT system would be the most efficient way to tax co…