P.R. Laws tit. 13, § 32123
(a) In general. — A merchant who has paid the taxes provided in this part on taxable items under the accrual method may claim a credit in the subsequent monthly sales and use tax return for those taxes paid by the merchant on the amount of uncollectible accounts.
(b) Conditioned sales. — When a merchant has paid the tax established in this part on a taxable item sold and repossesses (with or without a judicial proceeding) the taxable item, he/she may claim a credit in the subsequent monthly sales and use tax return for an amount equal to the taxes attributable to the balance due that becomes uncollectible for said merchant.
(c) Recovery. — In the case of the recovery of uncollectible accounts for which the merchant had claimed a credit, the amount recovered shall be included as a “gross sale” in the subsequent monthly sales and use tax return the merchant shall file after said recovery, and the merchant shall then pay the appropriate tax.
History —Jan. 31, 2011, No. 1, § 4050.03, retroactive to Jan. 1, 2011.