Puerto Rico's Department of the Treasury has issued Circular Letter No. 20-33 on the temporary exemption of B2B and designated professional services from the 4% sales tax (SUT) in response to COVID-19. The exemption was provided by Law 57-2020 for the months of April, May, and June 2020 ({News-2020-06-18/A/9-previous coverage}). The Circular clarifies how the SUT exemption is applied depending on the accounting method used. If a service provider uses the accrual method (accrual basis) as the accounting method for SUT and, in the ordinary course of business, does not receive payment at the time of sale, services invoiced during...