P.R. Laws tit. 21, § 651s
(a) False declaration or lack of declaration.— In the event of a false or fraudulent declaration with the intention of evading payment of the license tax or in case of failure to submit the declaration, the tax may be assessed or a proceeding in court without assessment for the collection of said license tax may be commenced at any time.
(b) Waiver.— When both the Finance Director and the person have agreed, in writing, prior to the expiration of the term prescribed in § 651r of this title for the assessment of the license tax, to assess the license tax after said term, the tax may be assessed at any time prior to the expiration of the term agreed upon. The term so stipulated may be extended by successive written agreements made prior to the expiration of the term previously agreed upon.
(c) Collection after assessment.— When the assessment of any license tax levied hereunder shall have been made within the prescription period properly applicable thereto, said tax may be collected by constraint or suit, provided it is commenced: (1) Within five (5) years after the assessment of the license tax; or (2) prior to the expiration of any term for collection agreed upon in writing, between the Finance Director and the person, prior to the expiration of said period of five (5) years. The period thus agreed upon may be extended by successive written agreements prior to the expiration of the period agreed upon previously.
History —July 10, 1974, No. 113, Part 1, p. 371, § 20; Nov. 17, 1992, No. 93, § 13.