P.R. Laws tit. 26, § 702c
(a) For taxable years beginning after December 31, 2012, there shall be imposed, collected, and paid a special one percent (1%)-tax on the premiums of every insurer, in addition to the tax on premiums imposed under § 702 of this title, and to any other tax imposed under this Code or under §§ 30011 et seq. of Title 13, known as the “Internal Revenue Code for a New Puerto Rico”. This provision shall only apply to premiums earned after June 30, 2013. The rules set forth in § 702 of this title shall apply to this special tax on premiums; however, the exception provided in § 702a of this title.
(b) The special tax described in subsection (a) shall not apply to premiums earned on Medicare Advantage, Medicaid, and premiums earned on the Mi Salud Program or on annuities.
(c) The special tax on premiums shall be paid to the Secretary of the Treasury of the Commonwealth of Puerto Rico through the Office of the Commissioner. Such tax shall be payable on or before March 31 of the following calendar year.
(d) For purposes of computing the authorized control level of health insurance issuers or health service organizations, the Office of the Commissioner shall consider the provisions of this section as a credit.
History —Ins. Code, added as § 7.022 on June 30, 2013, No. 40, § 2.