P.R. Laws tit. 13, § 30396
2019-02-20 00:00:00+00
(a) General rule.— In the event that any amount accrued and undistributed in an individual retirement account on which, and in accordance with Sections 1169A and 1169C of the Puerto Rico Internal Revenue Code of 1994, as amended, the taxpayer opts to pay the ten-percent (10%) or five-percent (5%) tax in advance, as the case may be, the basis of the taxpayer in such individual retirement account shall increase by the amount in which the taxpayer opted to pay such tax in advance.
History —Jan. 31, 2011, No. 1, § 1081.06, retroactive to Jan. 1, 2011; Dec. 10, 2011, No. 232, § 100.