P.R. Laws tit. 13, § 883
There shall be levied and collected on the recipient of every taxable gift, and the latter shall pay, a tax at the rates set forth in § 884 of this title. The following method shall be followed in computing the said tax:
(a) To the first gift received by the recipient (1) shall be applied the rates set forth in § 884 of this title on the amount of said gift; (2) from the amount of the result shall be deducted the tax credits provided for in § 887 of this title; the difference remaining shall be the tax to be collected and paid under §§ 881—905 of this title.
(b) To the second and subsequent gifts received by the recipient (1) shall be applied, on the total gifts accumulated, including the gift on which the tax is to be determined, the rates set forth in § 884 of this title; (2) from the amount of the result shall be deducted a sum equal to the tax computed at the rates set forth in § 884 of this title on the total gifts accumulated, without including with these the gift on which the tax is to be determined; (3) from the difference between the two amounts shall be deducted the tax credits provided in § 887 of this title; and the difference remaining shall be the tax to be collected and paid under §§ 881—905 of this title.
History —Apr. 12, 1946, No. 303, p. 782, § 2, retroactive to Mar. 22, 1946.