CRIM Form: for taxpayers on Personal Property

When the time comes to prepare the Personal Property Tax Form, before him Municipal Revenue Collection Center (CRIM), you need to know:

• The applicable rules to identify who must file a Personal Property Return.
• The types of taxable personal property, as well as the most important exemptions.
• The limits to determine; until when each property must be taxed and how to calculate the taxable value.
• the dates established for the payment of estimated contributions and the annual filing of the return.
• The New CRIM 360 Platform.
• The problems that taxpayers are reporting with the new platform.

When a taxpayer buys personal property, they often need to know about all the procedures they must do in this regard, for this reason they must look for all the information about the CRIM form.

CRIM Return Form

The form or CRIM form, is a document used in the cancellation of taxes or taxes, originated by a company or business that owns property, this means that it has a commercial premises or domain and what they carry out any economic activity, within any municipality of Puerto Rico.

When a taxpayer complete the corresponding documentation, They are given a series of indications or instructions required to complete the form, with this there is no problem when carrying out the management required by this form or form.

Instructions to prepare the CRIM Form

This form details (as they are mentioned), each box or field that make up the template CRIM.

    Box A

CRIM form box A, here in this section of the form it is necessary to detail What is movable property like? that the interested taxpayer has, in the same way Its value and the types of income or remuneration it has must be reported., in addition to the tax that must be paid according to what the movable property has received, until the day on which this management will be carried out.

You must also have a balance associated with CRIM, (or as it is better known Municipal Revenue Collection Center) and finally, it must be returned to the company (If the person cancels in excess), regarding the taxes that you had to pay the last time you carried out said procedure.

    Box B

This section provides information on the faithful testament, which any taxpayer has when forming a company or if the taxpayer is unique, you must have complete knowledge of all the data you provide in said form.

    Box C

As is done with any economic activity, which generates a transaction or sale, in this section of the CRIM form should be pointed out, as well as taught the cost ratio what does he have service or product, that provides said personal property.

In this case, if you do not carry out no type of sale, It must be indicated which is the net profit Company.

    Box D

This section indicates all the movable properties that you have and which ones are linked to cancel the respective taxes, here obviously reference is made to the movable property that produces economic benefits.

    Box E

Here you should point out the full names and surnames, as well as the respective tax addresses. You must also place the time lapses that will be in their positions or functions, as well as if the company is national or foreign.

Finally, you must indicate the number of shares that he owns in Puerto Rican territory, whether normal or chosen for being resident citizens.

    Box F

In this box it is much better detailed, the value or amount of the movable property, but on this occasion it must be done according to the resolutions 1987, 1978 and 1963, depending on the case that applies.

Furthermore, it should be noted the free total amount, partial exemption, total exemption and exemption proportion.

    Box G

In this section, we write the exemption or exoneration and must be used following requirements:

• Set the CRIM form, prior to the deadline.
• You cannot have debts contributions or taxes, as of the date when the tariff situation of movable property. In this case, if you have debts, you must have a plan or installment payment system, which is endorsed by the Municipal Revenue Collection Center, to be able to pay the entire amount owed.
• The owner of the establishment, prior to the beginning of the first day of the fiscal year, that the respective exemption.
• The services or professional benefits, are not included in the exemption.
• The exemptions must include the sales amount or retail product transactions, just like the value of services that take place on movable property.

    Box H

This is the last section of the CRIM form, here all the information about the:

1. Cash present at checkout.
2. The investment plan carried out.
3. The inventory of everything inside the establishment.
4. Type of improvements or remodeling (If you plan to do it in the commercial premises).
5. Equipment and machinery.
6. The materials and supplies (in case they are used).

It is important to highlight that it is necessary to point out in detail everything that has to do with the considerations that in movable property, as well as defining very well:

1. From where they were purchased.
2. The useful life of equipment and machinery.
3. As well as the way in which they are used.

The new CRIM platform

The new CRIM platform became completely required, since prior to year 2013 Any taxpayer received the return in format.PDF.

So it had to be completed and then do the sending all information that is requested. Now any taxpayer who wishes to complete the form only has to access the CRIM official website, for which you must click on the following link: https://www.crimpr.net/.

By following the procedure outlined in the electronic platform, you can manage the process online.

How to file the CRIM Form?

Filing the CRIM form, is done the calculation of the contribution or estimated contribution, as well as using the estimated calculation of the personal property that will be subject to tax, what was paid in surplus the previous year, without taking into account that the interested taxpayer has known the contribution for the following year.

With respect to claims or complaints about the surpluses from the previous fiscal year, in case the excess tax has been paid, they can be applied two methodologies To solve it:

1. La cancellation in full of the amount, exceeded in the year during the following year.
2. You can run the payment in installments, from first contribution or contribution that was estimated.

CRIM tables

In the CRIM tables, it is possible to observe the information described below, these Data is essential to carry out management properly:

Exoneration

It will depend on the particularities that the taxpayer has, whether it is an income received by the taxpayer in one of his taxable characteristics.

Contribution or contribution on personal property

This must be paid semi-annually and you should start according to to the fiscal year and for what is owned, in movable property.

Contributions or contributions

The same is due cancel prior to expiration of the term, Or the final installment.

Assessment

It must be canceled prior to carrying out any real estate procedure or operation, is better known as Preferential Lien on Personal Property.

Cadastre

It is defined as the inventory of each personal property, this is where the properties are fully detailed, specifying from their construction to the plot or domain where they were built.

What is CRIM?

El Municipal Revenue Collection Center o CRIM, It is where the tributes or taxes are indicated and these are assigned to the corresponding funds of the personal property taxes as such.

Furthermore, this organization is focused on control and administration of the lottery or draw electronically, also has the responsibility of realization of the cadastre and the real estate of all municipalities.

How do I know if I have to pay CRIM?

Those people who wish to benefit from the discounts, but have doubts about the amount of their debt, can enter the CRIM digital web portal: www.crimpr.net and through social security number and/or land registry number of your property, they will be able to obtain this information.

How to make payments to CRIM?

• By contacting Taxpayer Service at the telephone number: 787-625-2746.
• Visiting the different offices around the island.
• By calling the automated system by dialing 787-625-0060.
• Making payment through the web: www.crimpr.net.
• Making payment by sending a check or money order.

How many times is the CRIM paid?

According to information provided by the CRIM (Municipal Revenue Collection Center), taxes on real property are they pay twice a year.

Fonts

www.crimpr.net

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