P.R. Laws tit. 13, § 10034
(a) The exempted business shall be under the obligation to:
(1) Present to the Secretary of the Treasury, pursuant to the provisions of § 447 of this title, a complete list and a correct valuation of all real and personal property declared tax exempt under the provisions of this subtitle, and which said person possesses in his own right or has in his possession on the first of January of each year;
(2) file annually with the Secretary of the Treasury, pursuant to the Income Tax Act in force, an income tax return in relation to his operations;
(3) keep in Puerto Rico, the accounting records relative to the exempted business separately;
(4) keep such records, make such sworn statements, present such statements, and comply with such rules and regulations as the Governor may prescribe for the enforcement or fulfillment of the purposes of this chapter and as the Secretary of the Treasury may prescribe in connection with the levying and collection of all kinds of taxes, and
(5) file duly-completed reports and surveys for the preparation of economic studies and statistics that from time to time may be requested by the Economic Development Administrator in the performance of his duties.
History —June 2, 1978, No. 26, p. 55, § 11.