P.R. Laws tit. 13, § 30003
Based upon the referred [sic] principles and objectives and taking into consideration the results of the studies being performed by the Department of the Treasury, the proposed Tax Reform should:
(1) Significantly reduce tax rates on the income of individuals, particularly of the middle class;
(2) expand the tax base by incorporating the persons or entities operating within the informal or underground economy framework that do not participate in the responsibility of financing public programs and services;
(3) evaluate general excise taxes; shall consider possible alternatives to the same taking into account the basic principles and objectives established in §§ 30001 and 30002 of this title;
(4) and if necessary, implement a reimbursement system for persons of low income, pensioners and those who depend upon state or federal economic assistance, and
(5) establish a simple tax system with a structure for oversight and supervision that is more agile and effective.
History —Sept. 15, 2004, No. 323, § 4.