P.R. Laws tit. 3, § 9215
The Certificate of Compliance shall validate for a grantor-recipient agency that the natural or juridical person meets the specific requirements of the law by virtue of which a particular privilege is granted and, therefore, qualifies for the tax incentive or benefit in question.
The Certificate of Compliance shall be valid for two (2) years, and shall be in effect and available in the Portal for the granting of the tax incentive or benefit, amending and maintaining said incentive, and even to prevent the revocation of a tax credit, as the case may be. During the period in which the Portal is still not operating, it shall be the duty of the certifying-issuing agency to issue a Certificate of Compliance to the grantee-recipient agency following the regular procedure.
The Certificate of Compliance shall include the specific provision of the law that offers the incentive or benefit; the nature of the incentive or benefit; any variation with regard to the awarded amount of the benefit or incentive in question; any pertinent information, as provided in the corresponding laws, which shows the results of the impact of the incentivized activity on the economy of Puerto Rico (for example, tax-exempt revenues, if any, the investment, and the number of jobs created), in order to extract the information for analytical and statistical purposes; and the signature of the official certifying that all the information is correct and that the natural or juridical person meets all the requirements set forth by law.
In order to be valid, the Certificate of Compliance shall include, at least, the following information:
(a) The name of the natural or juridical person, or of the exempt business in question;
(b) a note stating whether the tax incentive or benefit is awarded for the first time, the tax incentive or benefit is amended to maintain the same, or whether the conditions that prevent the revocation of the tax credit are still met;
(c) the cadastre number of the property or properties connected to the business;
(d) the merchant registration number;
(e) the account connected to the business as required by the Puerto Rico Internal Revenue Code;
(f) the employer identification number;
(g) the information required by §§ 1411 et seq. of Title 23, better known as the “Fiscal Information and Permit Control Act”.
(h) that act that grants the incentive or benefit; and
(i) the nature of the incentive or benefit.
The information contained in the Certificate of Compliance must be entered digitally, by fields, to allow access thereto by the Puerto Rico Institute of Statistics for analytical and statistical purposes. For such reason, digital photos (JPGs) and any other similar formats that prevent or impair data extraction shall not be accepted.
The Director of the Puerto Rico Institute of Statistics may refuse to publish in the Portal any Certificate of Compliance that fails to comply with the provisions herein and any interested natural or juridical person and the certifying-issuing agency shall be responsible for correcting the same. The Certificate of Compliance shall not contain specific information, other than what is established herein, that may violate the confidentiality provisions of any laws governing tax decrees.
Notwithstanding any other provision of law which requires the deposit of a significant amount of funds in a banking and/or corporate institution with a presence in Puerto Rico as a condition to receive an incentive, if the law that establishes the incentives or the certifying-issuing agency fails to state the amount of income that would be sufficient to comply with the act, any natural or juridical person shall be deemed to be compliant if such person deposits ten percent (10%) of the funds generated from the incentivized economic activity.
History —Nov. 17, 2015, No. 187, § 7; Dec. 28, 2016, No. 208, § 36.