P.R. Laws tit. 13, § 10833a
(a) Any exempt business holding a decree under this chapter shall enjoy a sixty percent (60%) exemption from the municipal licenses or taxes applicable to the volume of business of said exempt business during the semester of the fiscal year of the Government in which the exempt business begins operations in any municipality and subsequent semesters for the term of the decree, in accordance with the provisions of the “Municipal License Act of 1974”, as amended. Provided, That in the case of an exempt business that has been operating prior to applying for the benefits of this chapter, the date of commencement of operations for purposes of municipal licenses shall be the first day of the semester following the date on which the application for tax exemption was filed.
(b) Notwithstanding the provisions of subsection (a) of this section, an exempt business under this chapter operating in a special industrial development zone constituted by the municipalities of Vieques and Culebra shall enjoy a ninety percent (90%) exemption.
History —Jan. 17, 2012, No. 20, added as § 6 on July 11, 2012, No. 138, § 5.