P.R. Laws tit. 13, § 10434
(a) Any exempt business that holds a decree granted under this chapter, shall have a sixty percent (60%) exemption on municipal licenses, excises and other municipal taxes levied by any municipal ordinance during the terms provided in this chapter.
(b) The taxable portion under subsection (a) of this section shall be, during the term of the decree, subject to the tax rate in effect as of the date on which the decree was executed, regardless of any subsequent amendment made to the decree to cover the operations of the exempt business on one or various municipalities.
(c) The exempt business that holds a decree granted under this chapter, shall have full exemption on municipal taxes and licenses applicable to the volume of business of such exempt business during the semester of the fiscal year of the Government in which the exempt business started operations in any municipality, pursuant to the provisions of the “Municipal Licenses Act of 1974”, as amended. Furthermore, the exempt business shall be fully exempt from municipal taxes and licenses on the volume of business attributable to such municipality during the two (2) semesters of the fiscal year or fiscal years of the Government following the semester in which it started operations.
(d) Any exempt business and its contractors, and subcontractors shall be fully exempt from any tax, assessment, fee, license, excise, rate or tariff imposed by municipal ordinance on the construction of works to be used by such exempt business within a municipality, it being understood that such taxes do not include the municipal license imposed on the volume of business of the contractor or subcontractor of the exempt business, during the term authorized under the tax exemption decree.
History —July 19, 2010, No. 83, § 2.13.