2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 3 - Business Regulations Generally (§§ 2001-2016 — 4196) › Chapter 303B - Money Service Business Regulatory Act (§§ 2581 — 2633) › Subchapter III - Money Transmitting Businesses (§§ 2601 — 2610) › § 2610 - Special charge

(a) A two percent (2%) charge is hereby established to be collected and paid by every money transmitting business, for every money transmission processed or completed electronically or by check, money order, fax, air transportation, or other means, from the jurisdiction of Puerto Rico, including any of the municipalities thereof, to any foreign entity, person, or business, including the United States jurisdiction
(b) The amount corresponding to the special charge thus imposed shall be remitted to the Department of the Treasury in the form and manner prescribed by said Department through regulations or administrative order.
(c) Every transmission or remittance of revenues generated from this provision shall be sent to the Department of the Treasury on or before the first ten (10) calendar days following the close of each month, as an attachment prepared by the Department, as part of the Sales and Use Tax (IVU, Spanish acronym) Return or as a separate form prepared by the Department, in the event such Return is not used. In said attachment or form, the entity or establishment concerned shall include an itemization per municipality of the total eligible transactions for each month, an itemization of the deposits of the collected special charge imposed under this Act, and any other information required by the Department.
(d) The entities required to pay the charge shall include in their receipts, invoices, tickets, or other proof of transaction, evidence of compliance with the provisions of this chapter. To meet such responsibility, the establishment shall individually and clearly itemize the special charge, separate from any other charge. The applicable entity shall not mix or include the special charge in any other commission or levy.
(e) The Department of the Treasury shall prepare a model notice explaining in a simple manner, in Spanish and English, the special charge authorized under this chapter, which every entity or establishment concerned shall conspicuously post in their place of business and in every promotion for services included as eligible transactions.
(f) The special charge established in this chapter constitutes evidence of debt of the purchaser of the transaction and, as such, may be collected as authorized under the law.
(g) The Department of the Treasury shall transfer the revenues received by virtue of this provision as follows:
(1) One third (1/3) of the annual receipts shall remain in the Department of the Treasury for use in the General Fund.
(2) One third (1/3) of the annual receipts shall be allocated to the Housing Finance Authority to be covered into the Fund created to defray and provide closing cost and down payment assistance for the acquisition of housing units by low- or moderate-income families.
(3) One third (1/3) of the annual receipts shall be allocated to the Housing Rental and Improvement Subsidy Program for Low-Income Elderly Persons created by virtue of §§ § 1491 et seq. of Title 17.
(h) The Housing Finance Authority and the Department of Housing shall provide the Department of the Treasury with the necessary assistance to facilitate and enforce compliance with and oversight the mandate of this chapter.
(i) Every money transmitting business shall strictly comply with the provisions of this chapter and be responsible for the payment of the special charge in the event it refuses to collect such charge whenever it is applicable. Any noncompliance shall be sanctioned by a fine in accordance with the regulations of the Department of the Treasury.
History —Sept. 21, 2010, No. 136, added as § 3.10 on Aug. 8, 2014, No. 136, § 2, eff. Sept. 1, 2014.