2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 983 - Act to Promote the Export of Services (§§ 10831 — 10844) › § 10839 - Periodic reports to the Governor and the Legislative Assembly

(a) In general.— The Secretary, with the advice of the Secretary of the Treasury, the Director of the Exemption Office, and the Executive Director, shall submit an annual report to the Governor and the Legislative Assembly on the economic and financial impact of this chapter. Said report shall be submitted within one hundred eighty (180) days after the closing of each fiscal year.
(b) Required information.— The Secretary shall request the following information from the government agencies, municipalities, or exempt businesses, as applicable, in order to draft the report provided in subsection (a) of this section:
(1) The number of exemption applications filed and approved, classified by type of eligible service;
(2) total number of employments and payroll projections of the business that holds a decree under this chapter;
(3) a description of any additional incentive that the exempt business receives;
(4) total assets, liabilities, and capital of the exempt business;
(5) taxes paid by tax exempt businesses for income;
(6) municipal tax payments, and
(7) any other information needed for the report to the Governor and the Legislative Assembly on the scope and effects of the implementation of this chapter.
(c) Additional information.— These reports shall include an evaluation of factors that have an effect on the social and economic development of Puerto Rico.
(d) Report of the Secretary of the Treasury.— The Secretary of the Treasury shall submit an annual report to the Legislative Assembly on the tendencies identified on tax payments made by businesses with a decree granted under this chapter, compared to the previous year and a projection of the same for the three (3) years following that to which the report corresponds. Said report shall be submitted within one hundred eighty (180) days after the closing of each fiscal year.
(e) Cooperation among agencies.— It shall be the duty of the agencies of the Government of Puerto Rico to furnish the information provided herein to the Secretary. The Secretary may establish, through regulations, the forms and procedures needed to ensure the exchange of information required by this section.
(f) The Interagency Validation Portal for the Granting of Incentives for the Economic Development of Puerto Rico, attached to the Puerto Rico Institute of Statistics, shall be an electronic data repository that allows information relative to businesses holding a decree under this chapter, and certificates of compliance to be stored, updated, and accessed by the agencies concerned, while safeguarding the confidentiality of such information. This information shall be used to oversee compliance with the conditions imposed on businesses holding a decree under this chapter and to develop a marketing intelligence system that enables the Department of Economic Development to identify and help in a timely manner those eligible businesses or businesses holding a decree in a precarious situation, as well as to establish promotion strategies.
History —Jan. 17, 2012, No. 20, § 11;, renumbered as § 12 on July 11, 2012, No. 138, § 6; Nov. 17, 2015, No. 187, § 104; Dec. 28, 2016, No. 208, § 31.