Saturday, June 21, 2014

High Volume Business Supplementary Information

In December of 2013, Puerto Rico enacted legislation known as Act 163 that added new requirements for filing in regard to high volume business. Among other things, taxpayers with a volume of business equal to $3 million dollars or greater are required to file supplemental information.  

Supplemental information includes:

Volume Business Declaration which contains information on total gross income, itemized income, sales returns.  For business like gas stations a declaration on the volume of gas sold is required.

Personal Property Tax Supplemental Information
Beginning year cash balances, cash in transit, Inventory

Income Tax Supplemental Information
Verification of withholdings and payment of wages, verification of proper sales and use tax payment, etc.

There are more rules and this post contains simplifications and is not comprehensive. Additionally, as always, a professional should be consulted and be presented with specific information.


The information on this website is general information and is for educational use only and has not been verified for accuracy nor completeness. You, the reader, should further research your specific individual situation. In addition you should contact your accounting professional for professional advice derived from specific details from your structure and financial position.


  1. A 2-day seminar with a reputable financial training company costs between $10,000 and $20,000. This is a lot. So how is it possible then to learn how to understand accounting and get Accounting 101 for a reasonable price. Well thanks to modernity, the solution is there for you: Online Accounting Tutoring.pengantar akuntansi

  2. Big printers will run your ads at the same time national chains do to pass on massive savings to you. rush color copies printing For the corporate print buyer, the first step in moving your print procurement on-line is to list the requirements for your individual business needs.