reglab/statecodes huggingface dataset:
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 2 - Taxation In General (§§ 161 — 393) › Chapter 47 - Tax Reform Commission (§§ 391 — 391f) › § 391e - Reports and proposed legislation to Governor and Legislature

The Commission shall render reports to the Governor and to the Legislature on the plan whose preparation was entrusted to said Commission by virtue of § 391a of this title, which may be submitted by stages for the various aspects or sectors of the tax reform in accordance with the priorities that the Commission may determine. The first report shall be rendered within a term of eight (8) months and the final report not later than within the eighteen (18) months. The above-mentioned terms shall be reckoned, respectively, from the date the Commission becomes constituted.
Jointly with each partial reform, the Commission shall submit to the Governor and to the Legislature such legislative proposals, including drafts of bills, as may be required for the fulfillment of the recommendations contained therein.
History —Jan. 30, 1973, J.R. No. 2, p. 538, § 6.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 2 - Taxation In General (§§ 161 — 393) › Chapter 47 - Tax Reform Commission (§§ 391 — 391f) › § 391f - Appropriation

The sum of three hundred thousand (300,000) dollars is hereby initially appropriated to the Commission from unencumbered funds in the Commonwealth Treasury to carry out the purposes of this chapter. The Legislature shall subsequently appropriate to the Commission the additional funds as may be necessary for its operation.
History —Jan. 30, 1973, J.R. No. 2, p. 538, § 7.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 51 - Rate of Taxes on Real and Personal Property (§§ 401 — 406) › § 404a - Special tax for amortization and redemption of general obligations; reduction—Appropriation; payment to municipalities

To reimburse the municipalities for the uncollected property taxes resulting from the tax exemption provided by former § 402 of this title, there is hereby appropriated, from unencumbered funds in the Treasury of Puerto Rico, for the year 1962—63 and each succeeding fiscal year, a sum equal to the uncollected amount resulting from the aforesaid exemption. The Secretary of the Treasury shall, from the aforesaid appropriation, remit periodically to each municipality, a sum equivalent to the uncollected amount of its basic tax and shall transfer to the corresponding funds a sum equivalent to the uncollected amount of the tax levied, for the repayment of municipal loans.
History —June 8, 1962, No. 24, p. 41, § 3.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 51 - Rate of Taxes on Real and Personal Property (§§ 401 — 406) › § 404b - Special tax for amortization and redemption of general obligations; reduction—Pledge of good faith, credit and taxing power

Nothing contained in §§ 404a—404c of this title shall be understood to modify any action previously taken according to law pledging the good faith, credit and taxing power of the Commonwealth or any municipality for the payment of the principal of and interest on any bonds or notes of the Commonwealth or of any municipality, nor impairs the guarantee of commitments of such nature hereafter made according to law. If in any fiscal year the Legislature should discontinue the appropriations provided in §§ 404a and 404c of this title and the available revenues of the Commonwealth or of any municipality, as the case may be, should not be sufficient for the payment of principal of and interest on any bonds or notes of the Commonwealth or any municipality, as they fall due, the exemption granted by §§ 404a—404c of this title from the payment of property taxes levied by the Commonwealth or by such municipality, as the case may be, shall be suspended for said fiscal year, this provision constituting a compact between the holders from time to time of bonds and notes for the payment of which the taxing power of the Commonwealth or of any municipality may have been pledged.
History —June 8, 1962, No. 24, p. 41, § 4.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 51 - Rate of Taxes on Real and Personal Property (§§ 401 — 406) › § 404c - Special tax for amortization and redemption of general obligations; reduction—Appropriation to Special Fund

There is hereby appropriated to the “Special Fund for the Amortization and Redemption of General Obligations Evidenced by Bonds and Promissory Notes” created by former §§ 402—404 of this title, from unencumbered funds in the treasury of Puerto Rico, for the year 1962—63 and each succeeding fiscal year, a sum equal to the uncollected tax resulting from the tax exemption provided by former § 402 of this title, less the equivalent of the amount of twenty hundredths of one percent (1%) by which the municipalities are reimbursed by § 746 of Title 21.
History —June 8, 1962, No. 24, p. 41, § 5.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 53 - Cadastration, Classification, and Assessment of Property (§§ 431 — 480) › § 473 - Regulations, orders, and instructions

The Secretary of the Treasury shall have authority to issue all such regulations, orders and instructions as may be required for carrying out the provisions of Title IX of the Political Code, and such regulations, orders and instructions, when duly issued, shall have all the force of law.
History —Political Code, 1902, § 327.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 53 - Cadastration, Classification, and Assessment of Property (§§ 431 — 480) › § 475 - Collection districts; collectors; bonds

For the collection of the taxes imposed by Title IX of the Political Code, the sale of internal revenue stamps and the collection of the other taxes, as well as for the performance of other duties authorized by the Secretary of the Treasury, the Secretary of the Treasury is hereby empowered to create whatever number of collection centers are needed for such purposes; and to appoint a collector in each of said districts, with the remuneration fixed by law, who shall post bond to the Secretary of the Treasury in behalf of the Commonwealth of Puerto Rico, in the amount determined by the Secretary of the Treasury. Said bond shall be approved by the Secretary of the Treasury, with respect to its form and execution, and with regard to its sufficiency. Said bonds shall be posted to cover the liability of the collectors for all revenues and moneys they collect and receive. Provided, That the Secretary of the Treasury shall have the power to authorize the sale of internal revenue stamps and any other securities that he/she is bound to sell, using whatever methods are needed to establish a complete and adequate system for the sale of these securities, as established by regulations, provided that the requirements imposed by §§ 316a and 316b of this title are complied with.
History —Political Code, 1902, § 329; Mar. 14, 1907, p. 330, § 9; Apr. 26, 1950, No. 120, p. 310, § 7; Dec. 10, 1999, No. 331, § 8.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 53 - Cadastration, Classification, and Assessment of Property (§§ 431 — 480) › § 475a - Negotiation with banks for collection of taxes

The Secretary of the Treasury is authorized to negotiate and contract with banks for the collection of all kinds of taxes, and the sale of all kinds of internal revenue stamps, vouchers, and any other similar valuables that he deems convenient and necessary as he may specify through regulations. Provided, That the Secretary of the Treasury shall have the power to grant contracts through which the commissions obtained from rendering banking services shall be deducted by the banking institution from the amounts collected, which must be remitted to the Secretary of the Treasury.
History —Political Code, 1902, added as § 329A on June 23, 1978, No. 76, p. 252, § 1.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 55 - Attachment, Sale, and Redemption of Property (§§ 501 — 522) › § 505 - Title vested in purchaser; disposition of proceeds of sale

On payment of the price bid for any personal property sold, the delivery thereof, with a bill of sale, shall vest the title thereof in the purchaser. All excesses over the taxes, penalties and costs realized from such sale shall be returned by the collector or agent to the owner of the property sold, his heirs or assigns as provided in § 504 of this title. The collector or agent shall report to the Secretary of the Treasury or to his delegate the full amount realized of every sale upon attachment, and the disposition of the proceeds thereof. The unsold portion of any such personal property shall be left at the place of sale at the risk of the owner.
History —Political Code, 1902, § 338; June 14, 1957, No. 56, p. 125, § 5.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 55 - Attachment, Sale, and Redemption of Property (§§ 501 — 522) › § 507 - Attachment certificate; recording

Immediately after the expiration of the terms granted by § 330 of the Political Code of this title for the payment of the taxes, in the cases where the property to be attached is immovable, the collector or agent shall prepare an attachment certificate describing the real property attached and shall cause said certificate to be presented for recording in the proper registry of property. Said certificate shall contain the following details: the name of the delinquent taxpayer, if known; the number in the registry of deeds as assigned by the Secretary of the Treasury to the real property attached for fiscal purposes; the amount of taxes, penalties and costs due thereon; the description of the property or real property attached; and that the attachment will be valid in favor of the Commonwealth of Puerto Rico. The attachment certificate, once presented in the registry, shall be sufficient to notify the taxpayer and to begin the attachment proceeding.
History —Political Code, 1902, § 340; Mar. 10, 1904, p. 167, § 35; June 14, 1957, No. 56, p. 125, § 7; June 28, 1969, No. 132, p. 384, § 4; May 27, 1976, No. 55, p. 152, § 7.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 55 - Attachment, Sale, and Redemption of Property (§§ 501 — 522) › § 508 - Record of certificate of attachment; personnel to cooperate with registrars

It shall be the duty of every registrar of property, immediately upon the receipt of said attachment certificate, to properly record it and return it to the proper collector or agent, within the term of ten (10) days, with a note from the registrar of property stating that it has been duly recorded. No fees shall be charged by the registrar for such service. The Secretary of the Treasury is hereby authorized to appoint the necessary personnel in the Tax Collection Bureau to cooperate with the registrars of property in the task of searching in the files of the registries of property for the real property attached, in the annotation of the attachments ordered and in any other tasks related to attachment of real property for the collection of taxes.
History —Political Code, 1902, § 341; Mar. 10, 1904, p. 167, § 36; June 14, 1957, No. 56, p. 125, § 8; June 28, 1969, No. 132, p. 384, § 5; May 27, 1976, No. 55, p. 152, § 8.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 55 - Attachment, Sale, and Redemption of Property (§§ 501 — 522) › § 509 - Notice of attachment; advertisement of auction

Once the certificate of attachment is presented for registration at the proper property registry, the collector or agent shall notify said attachment in the manner determined by § 503 of this title, to the effect that if all taxes, interest, penalties and costs owed by the owner of the attached property are not paid within the term prescribed hereinbelow for advertising the sale of said property, it will be sold at public auction for a minimum rate fixed on the basis of the worth of the taxpayer’s equity in the property subject to attachment or for the worth of the tax debt, whichever is less. If the person to whom the attachment is notified, because he/she appears as the owner of the property in the registries of the Department of the Treasury, is not the owner on the date of the notice, he/she will be bound to give written notice of such circumstance to the collector who notified him/her of the attachment within ten (10) days following the date on which he/she received said notice. If he/she does not do so, he/she shall be guilty of a misdemeanor and upon conviction shall pay a fine of not less than one hundred (100) dollars or shall be imprisoned for a period of not less than six (6) months or both penalties, at the discretion of the court. Said advertisement of auction shall be published at least three (3) times a week for a period of one (1) week in two (2) newspapers of general circulation in Puerto Rico, and notices shall be posted to that same effect; and the cost of said advertising and posting, together with the fees established by § 536 of this Act for service of notice to the taxpayer or his/her representative, shall be collected as part of the costs of the sale and paid to the Secretary of the Treasury. The Secretary of the Treasury shall preserve a copy of said notice and a copy of the advertisement published in the newspapers together with the sworn statement of each one of the administrators of each one of the newspapers in which said advertisement was published. These documents shall be prima facie evidence of the proper advertisement of the auction.
History —Political Code, 1902, § 342; Mar. 10, 1904, p. 167, § 37; Mar. 10, 1910, No. 19, p. 83; June 14, 1957, No. 56, p. 125, § 9; June 28, 1969, No. 132, p. 384, § 6; May 27, 1976, No. 55, p. 152, § 9; Aug. 6, 1991, No. 48, § 2.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 55 - Attachment, Sale, and Redemption of Property (§§ 501 — 522) › § 511 - Continuance or postponement of sale

The collector or agent may continue the sale from day to day, if in his opinion such continuation is necessary, and for good and sufficient cause may adjourn the sale for a period not exceeding sixty days, of which due notice shall be given by advertisement, in the manner provided in § 509 of this title.
History —Political Code, 1902, § 344.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 55 - Attachment, Sale, and Redemption of Property (§§ 501 — 522) › § 512 - Unauthorized sale; penalty

If any collector or agent shall sell or assist in selling any real or personal property knowing it to be exempt from attachment; or that the taxes for which it is sold have been paid; or shall knowingly and wilfully sell or assist in selling any personal or real property whatsoever for the payment of taxes to defraud the owner thereof; or shall in any way restrain bidders in any manner, or shall knowingly or intentionally issue a certificate of purchase of real property so sold, he/she shall be deemed guilty of a misdemeanor and, upon conviction thereof, shall be sanctioned by a fine of five hundred (500) dollars or imprisonment for a term of six (6) months, or both penalties, at the discretion of the court, and shall be liable to pay the injured party all damages sustained by him/her on account thereof, and all such sales shall be void.
If any collector or agent showed implicitly or expressly offer to the bidders guarantees on the validity of the title, quality, size or condition of the property, he/she shall be subject to the penalties stated in the preceding paragraph, but the sale shall be valid.
History —Political Code, 1902, § 345; Mar. 10, 1904, p. 167, § 39; Aug. 6, 1991, No. 48, § 4.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 55 - Attachment, Sale, and Redemption of Property (§§ 501 — 522) › § 513 - Purchase by collector or agent prohibited

If any collector or agent shall, directly or indirectly, purchase any part of any real or personal property sold for the nonpayment of taxes, he and his sureties shall be liable on his official bond for all damages sustained by the owner of such property, and all such sales shall be void. In addition thereto, the officer so offending shall be deemed guilty of a misdemeanor, and shall, upon conviction thereof, be fined in a sum not exceeding one thousand dollars ($1,000).
History —Political Code, 1902, § 346.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 55 - Attachment, Sale, and Redemption of Property (§§ 501 — 522) › § 514 - Certificate of purchase; recording vesting of title

Within sixty (60) days after the auction the collector shall prepare, sign and deliver to the purchaser of any real property sold for nonpayment of taxes, a certificate of purchase which shall contain the name and residence of said purchaser, the date of sale of said real property, the amount for which it is sold, a statement that said amount has been paid by the purchaser, the amount of taxes, penalties and costs, and the description of the property required by § 507 of this title, and the folio and volume of the corresponding section of the Property Registry of Puerto Rico in which the property sold shall have been recorded, in case it has been so recorded.
If the right of redemption provided for in § 515 of this title is not exercised within the time prescribed, said certificate, when recorded in the corresponding section of the Property Registry of Puerto Rico shall vest absolute title to said property in said purchaser, subject to the preferred liens on said property that have preference of attachment by the Commonwealth of Puerto Rico. Said certificate shall be prima facie evidence of the facts stated therein in any controversy, proceeding or suit involving or concerning the rights of the purchaser, his/her heirs or assigns, to the property thereby conveyed; and upon receipt of said certificate, the purchaser, his/her heirs or assigns, may have the same duly recorded in the corresponding section of the Property Registry of Puerto Rico after payment of a fee of two dollars ($2.00).
History —Political Code, 1902, § 347; Mar. 14, 1907, p. 330, § 11; June 13, 1964, No. 47, p. 109; Aug. 6, 1991, No. 48, § 5.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 55 - Attachment, Sale, and Redemption of Property (§§ 501 — 522) › § 516 - Notice to purchaser who cannot be found

(a) When a taxpayer whose property has been sold for the payment of taxes wishes to redeem it and is ignorant of the domicile of the person to whom it was sold, or does not find him at the domicile stated in the certificate of sale, he shall publish a notice to that effect in a newspaper of general circulation, once a week for thirty (30) days, and he shall also post it for one month in the office of the internal-revenue collector where the property was sold, offering the sum paid by the person to whom the property was adjudicated, and the interest thereon up to the day the money was judicially deposited; and, at the expiration of the period, he shall make the judicial deposit in the proper registry of property in the manner and for the purposes determined in § 517 of this title.
(b) A person having some interest in the property sold at auction shall have the same right as the delinquent taxpayer.
History —May 6, 1939, No. 137, p. 674, §§ 1, 2, eff. 90 days after May 6, 1939.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 55 - Attachment, Sale, and Redemption of Property (§§ 501 — 522) › § 517 - Procedure if purchaser refuses redemption money or cannot be found; certificate of redemption

If the aforesaid purchaser, his heirs or assigns, refuse to accept the tender of redemption money so made, or if they cannot be located, the person who has the right to redeem the property shall pay the amount of redemption money to the internal-revenue collector in whose office the property was sold. Whereupon the collector shall compute the lawful amount of redemption money due, in accordance with the provisions of this title, and upon receipt of the same, shall issue to the redemptioner a certificate of redemption. The payment of such redemption money to said collector shall restore to said former owner, his heirs or assigns, all the right, title, interest and estate in and to said real property, held by said former owner before the sale for non-payment of taxes.
History —Political Code, 1902, § 349; Apr. 14, 1941, No. 34, p. 558, eff. 90 days after Apr. 14, 1941.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 55 - Attachment, Sale, and Redemption of Property (§§ 501 — 522) › § 518 - Notice to purchaser of deposit of redemption money

Upon the receipt of such redemption money, in the manner aforesaid, the collector shall notify the purchaser, his heirs or assigns, of the payment of such money, and shall hold the same subject to the order of said purchaser, his heirs or assigns. Such notification may be sent by registered mail to the last residence of such purchaser, his heirs or assigns, as specified in the certificate of purchase. The collector shall not charge any amount whatever for his services in the proceedings hereinabove mentioned.
History —Political Code, 1902, § 350; Apr. 14, 1941, No. 34, p. 558, eff. 90 days after Apr. 14, 1941.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 55 - Attachment, Sale, and Redemption of Property (§§ 501 — 522) › § 520 - Cancellation of irregular sale to Commonwealth

When any real property has been sold for delinquent taxes and has been bid on in the name of the Commonwealth of Puerto Rico and it is afterwards discovered that, for any reason, such sale was irregular and that the owner of said property has been improperly deprived of his property the Secretary of the Treasury of Puerto Rico shall have authority to cancel said sale and where necessary to issue a certificate of redemption which shall act as a reconveyance of the property to the owner, or to his heirs or assigns, as the case may be, and the property shall remain subject to all liens and legal claims against it to the same extent and in the same manner as though said property had not been sold for taxes, and the Registrar of Property shall record the certificate of redemption without the payment of any fee for such service. The Secretary of the Treasury of Puerto Rico shall in all cases where a certificate of redemption is issued in accordance with the provisions of this section transmit to the Secretary of Transportation and Public Works a certified copy of said certificate together with a statement setting forth the facts in the case and the grounds for issuing such certificate.
History —Mar. 14, 1907, p. 330, § 26.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 57 - Exemptions from Property Taxes (§§ 551 — 631) › § 564 - Products stored for aging—Exemption after first year

For the purpose of stimulating the improvement in their quality, there are hereby exempted from the payment of property taxes during all the fiscal years following the first in which they have been stored for aging, those products with respect to which it has been scientifically recognized that aging improves their quality.
History —May 5, 1945, No. 53, p. 200, § 1.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 57 - Exemptions from Property Taxes (§§ 551 — 631) › § 565 - Products stored for aging—Classification of eligible products

No product shall be declared to be scientifically recognized among those whose quality is improved through the aging process, until said declaration has been made by the Secretary of the Treasury of Puerto Rico through administrative order to that effect.
History —May 5, 1945, No. 53, p. 200, § 2.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 57 - Exemptions from Property Taxes (§§ 551 — 631) › § 566 - Products stored for aging—Control of storage; identification of products

There shall only be considered as stored for aging purposes those products whose storage may be controlled at all times by the Secretary of the Treasury of Puerto Rico and may be identified by him at any moment.
History —May 5, 1945, No. 53, p. 200, § 3.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 57 - Exemptions from Property Taxes (§§ 551 — 631) › § 567 - Products stored for aging—Products stored prior to May 5, 1945

The products which have been stored for aging purposes prior to the taking effect of this act and which, in accordance with the terms hereof, fill and have filled for not less than one (1) year prior to said effectiveness, the requirements herein established for the exemption herein granted, should they have paid property taxes for the said year preceding the effectiveness of this act, shall be exempt from the payment of property taxes during all subsequent years in which they continue to be stored for aging purposes, in accordance with the provisions of §§ 564—569 of this title.
History —May 5, 1945, No. 53, p. 200, § 4.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 57 - Exemptions from Property Taxes (§§ 551 — 631) › § 568 - Products stored for aging—Definition of eligible products

Products stored for aging purposes shall be understood to be:
(a) Those with respect to which, at the time of their storage, a statement is delivered to the Secretary of the Treasury of Puerto Rico containing a detail and description thereof, stating that they are stored to be aged and placing them under his control, in accordance with the rules which for such purpose the Secretary of the Treasury shall prescribe.
(b) Those products which, although bonded under the control of the Secretary of the Treasury of Puerto Rico for other purposes, the Secretary of the Treasury may verify that their quality has improved or may improve with said storage.
(c) Products deposited in bond prior to the effectiveness of this act, with respect to which the Secretary of the Treasury may verify what is expressed in subsection (b) of this section.
History —May 5, 1945, No. 53, p. 200, § 5.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 57 - Exemptions from Property Taxes (§§ 551 — 631) › § 569 - Products stored for aging—Regulations

The Secretary of the Treasury of Puerto Rico is hereby empowered to issue the rules or regulations necessary to enforce the provisions of §§ 564—569 of this title.
History —May 5, 1945, No. 53, p. 200, § 6.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 3 - Property Taxes (§§ 401 — 701-701-41) › Chapter 57 - Exemptions from Property Taxes (§§ 551 — 631) › § 631 - Olympic Trust

(a) All personal and real property, including the land, buildings, equipment, accessories and vehicles owned or acquired in the future by the Olympic Trust, including the Casa Olímpica and the sports and recreational center known as the Germán Rickehoff Albergue Olímpico of Puerto Rico is hereby exempted from the payment of property taxes.
This exemption shall be in effect and be maintained while said property belongs to the Olympic Trust; Provided, That the Trust shall file with the Secretary of the Treasury an inventory of all real and personal property it owns by the date of approval of this act.
(b) The tax exemption herein provided is subject to the Olympic Trust not being indebted for any other taxes. Furthermore, the Trust shall render a written report on the operational activities and status of the Trust to the Secretary of the Treasury not later than the first of February of each year.
History —Sept. 29, 2004, No. 507, §§ 1, 2.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 5 - Inheritance and Gift Taxes (§§ 881 — 906) › Chapter 91 - Inheritance and Gift Taxes (§§ 881 — 906) › § 882 - Definitions—Additional definitions

In the present act the word “person” shall be construed to include the plural as well as the singular, corporations as well as partnerships, associations of all kinds and private persons; the word “property” shall be construed to include both real and personal estate, and any form of interest therein, including life incomes or annuities of any form or kind, as well as usufruct, nude property, or any kind of rights and actions. The word “administrator” shall be held to include any heir, relative or other beneficiary of any decedent, who may have charge of the disposition and apportionment of the property of such deceased.
History —Aug. 29, 1925, No. 99, p. 790, § 14; Apr. 12, 1946, No. 303, p. 782, § 15; May 13, 1948, No. 189, p. 526, § 2, eff. July 1, 1948.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 5 - Inheritance and Gift Taxes (§§ 881 — 906) › Chapter 91 - Inheritance and Gift Taxes (§§ 881 — 906) › § 883 - Computation of tax

There shall be levied and collected on the recipient of every taxable gift, and the latter shall pay, a tax at the rates set forth in § 884 of this title. The following method shall be followed in computing the said tax:
(a) To the first gift received by the recipient (1) shall be applied the rates set forth in § 884 of this title on the amount of said gift; (2) from the amount of the result shall be deducted the tax credits provided for in § 887 of this title; the difference remaining shall be the tax to be collected and paid under §§ 881—905 of this title.
(b) To the second and subsequent gifts received by the recipient (1) shall be applied, on the total gifts accumulated, including the gift on which the tax is to be determined, the rates set forth in § 884 of this title; (2) from the amount of the result shall be deducted a sum equal to the tax computed at the rates set forth in § 884 of this title on the total gifts accumulated, without including with these the gift on which the tax is to be determined; (3) from the difference between the two amounts shall be deducted the tax credits provided in § 887 of this title; and the difference remaining shall be the tax to be collected and paid under §§ 881—905 of this title.
History —Apr. 12, 1946, No. 303, p. 782, § 2, retroactive to Mar. 22, 1946.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 5 - Inheritance and Gift Taxes (§§ 881 — 906) › Chapter 91 - Inheritance and Gift Taxes (§§ 881 — 906) › § 884 - Tax rates

The tax rates to be collected under the provisions of § 883 of this title shall be the following:
The tentative tax or the tax credit, as If the accumulated gifts are: the case may be, shall be: Not over $2,000 5% of the accumulated gifts Over $2,000 but not over 4,000 $100 plus 7% of the excess over $2,000 Over 4,000 but not over 7,000 240 plus 10% of the excess over 4,000 Over 7,000 but not over 10,000 540 plus 12% of the excess over 7,000 Over 10,000 but not over 15,000 900 plus 15% of the excess over 10,000 Over 15,000 but not over 25,000 1,650 plus 18% of the excess over 15,000 Over 25,000 but not over 50,000 3,450 plus 25% of the excess over 25,000 Over 50,000 but not over 100,000 9,700 plus 30% of the excess over 50,000 Over 100,000 but not over 200,000 24,700 plus 35% of the excess over 100,000 Over 200,000 but not over 300,000 59,700 plus 40% of the excess over 200,000 Over 300,000 but not over 400,000 99,700 plus 45% of the excess over 300,000 Over 400,000 but not over 500,000 144,700 plus 50% excess over 400,000 Over 500,000 but not over 1,000,000 194,700 plus 60% of the excess over 500,000 Over 1,000,000 494,700 plus 70% of the excess over 1,000,000
History —Apr. 12, 1946, No. 303, p. 782, § 3; May 13, 1948, No. 189, p. 526, § 1, eff. July 1, 1948.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 5 - Inheritance and Gift Taxes (§§ 881 — 906) › Chapter 91 - Inheritance and Gift Taxes (§§ 881 — 906) › § 885 - Tax rate for corporations

If either the donor or recipient is a corporation (other than a corporation organized for a public or charitable purpose, no part of whose profits accrues to the benefits of any individual), there shall be levied in lieu of the tax imposed by § 884 of this title a tax of sixty percent (60%) of the net amount of such gift; Provided, That where it is shown to the satisfaction of the Secretary of the Treasury of Puerto Rico that the gift is made for a legitimate purpose, and not for the purpose of evading the taxes levied under §§ 881—905 of this title or the taxes levied under the Income Tax Law, there shall be no obligation to pay any tax under this section, but taxes shall be paid under § 884 of this title. A uniform distribution by a corporation to its stockholders, or a uniform assessment or contribution to the corporation shall not be considered a gift, but if a corporation having more than one class of stock makes a distribution not properly reflecting the investment and interests of the various classes of stockholders so as to constitute a substantial shift in equity from one class to the other, the Secretary of the Treasury may declare such distribution to be a gift for the purposes of §§ 881—905 of this title.
History —Apr. 12, 1946, No. 303, p. 782, § 6, retroactive to Mar. 22, 1946.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 5 - Inheritance and Gift Taxes (§§ 881 — 906) › Chapter 91 - Inheritance and Gift Taxes (§§ 881 — 906) › § 888 - Returns

(a) Living donors. — Every donor making any gift of more than one thousand (1,000) dollars (or any gift which brings the total of such gift made to any one person since the beginning of the calendar year, or since the previous return with respect to such person, if later, to more than one thousand (1,000) dollars [)], other than by will or other disposition effective at death, shall within ten (10) days after the date of such gift make a return to the Secretary of the Treasury, stating the net value of the gift, the age of the donor, the name, age and address of the recipient, and such other information as the Secretary of the Treasury may require. Any donor making during any calendar year gifts aggregating more than five thousand (5,000) dollars, regardless of the number of persons involved, shall make a return, on or before February 1 of the following calendar year setting forth in detail the amount or value of each gift, the date on which made, the names, addresses and ages of the persons to whom each gift is made, and such other information as the Secretary of the Treasury may require.
(b) Recipients. — Every recipient receiving gifts during any calendar year amounting to one thousand (1,000) dollars or more in the aggregate shall make a return thereof on or before February 1 of the following calendar year, setting forth the value of each gift, the date received, and the name, address and age of the person from whom received; Provided, That no return shall be required where the sole gift received consists of a legacy upon which the tax has been withheld by an administrator, trustee, or other agent.
(c) Every corporation shall make a return of such transfers of shares as the Secretary of the Treasury may by regulation direct.
History —Apr. 12, 1946, No. 303, p. 782, § 7, retroactive to Mar. 22, 1946.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 5 - Inheritance and Gift Taxes (§§ 881 — 906) › Chapter 91 - Inheritance and Gift Taxes (§§ 881 — 906) › § 889 - Time for payment of tax

(a) Gifts to non-residents. — Any resident donor intending to make a gift to a non-resident shall inform the Secretary of the Treasury of this intention not less than thirty (30) days in advance of the intended transfer, setting forth the name, address, and age of the intended recipient and the value of the gift to be made. The Secretary of the Treasury shall compute the tax to be paid, and shall within a term of twenty (20) days inform the donor of the amount of such tax, which amount the donor shall withhold from the recipient and transmit, within a term of thirty (30) days after the making of the gift, to the Secretary of the Treasury. Failure of the donor to comply with these provisions shall render him personally liable for the tax on the gift; whenever the tax is thus collected from the donor, the amount of the tax so collected and not withheld from the recipient shall be included in the amount of the taxable gift.
(b) In the case of gifts other than gifts to non-residents and gifts effective at death, the tax shall be due and payable on or before February 1 of the year following the year in which the gift was made and shall be paid by the recipient.
History —Apr. 12, 1946, No. 303, p. 782, § 8, retroactive to Mar. 22, 1946.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 5 - Inheritance and Gift Taxes (§§ 881 — 906) › Chapter 91 - Inheritance and Gift Taxes (§§ 881 — 906) › § 890 - Return of assets and liabilities; presumption of gift

(a) Whenever in the judgment of the Secretary of the Treasury it is necessary for the proper administration of this tax, he may require any person, by notice for the purpose, to make a return of his assets and liabilities, in such detail and in such form as the Secretary of the Treasury may require, as of such date as the Secretary of the Treasury may specify (but in no case shall such date be more than three (3) years prior to the date of notice).
(b) Whenever it appears that the excess of the assets of a taxpayer over his liabilities exceeds the amount that can be accounted for by adjusting the assets and liabilities declared as of a previous date in accordance with the income reported for income tax purposes, unrealized increases in the value of individual items, and the gifts reported under §§ 881—905 of this title for the intervening period, after making a reasonable allowance for living expenses, such excess may be presumed to arise from an unreported gift, and the Secretary of the Treasury shall proceed to assess and collect a tax thereon, together with such penalties as may be due. For this purpose the Secretary of the Treasury may make such reasonable assumption as he selects regarding the time such gift was made and the age of the person from whom it was received, and such assessment shall not be set aside except upon a clear showing by the taxpayer of a legitimate basis for the discrepancy observed.
History —Apr. 12, 1946, No. 303, p. 782, § 9, retroactive to Mar. 22, 1946.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 5 - Inheritance and Gift Taxes (§§ 881 — 906) › Chapter 91 - Inheritance and Gift Taxes (§§ 881 — 906) › § 891 - Recording of transfers; presumption of gift

(a) Transfers to be recorded. — Every person who transfers any share, right, interest or other valuable intangible, transmissible by endorsement or by delivery, to any child, descendant, relative or other natural object of his bounty, shall within ten (10) days thereof or within ninety (90) days after the approval of this section record such transfer before a notary public, stating in full the consideration, if any, given in exchange and the date of transfer; Provided, That no penalty shall attach to failure to comply with this requirement other than as specified in subsection (b) hereof.
(b) Inclusion in estate where no transfer recorded. — If after the death of the decedent there is found in the possession of any heir or other natural object of the bounty of the decedent any share, right, interest, or other valuable intangible, transmissible by endorsement or by delivery, previously belonging to the decedent, with respect to which no record of transfer to the present holder was filed before a notary public as required in subsection (a) hereof, and with respect to which no gift tax return was filed under § 889(b) of this title, such property shall be considered a part of the estate of the decedent and a tax shall be assessed upon such holder as though such property had been bequeathed to the holder by the decedent; Provided, That this subsection shall not apply in the case of persons dying within ninety (90) days of the approval of this act.
(c) Every transfer by a person over fifty (50) years of age, or within the two (2) years preceding the death of the transferor, to his children, descendants, relatives, or other natural objects of his bounty, shall be presumed to be a gift, unless it is shown by the taxpayer that:
(1) The transfer was made for full and adequate consideration in money or money’s worth, and
(2) said consideration was derived, directly or indirectly from income of the recipient or from property acquired prior to the approval of this act, or from a gift on which a tax was paid in accordance with §§ 881—905 of this title, or from other lawful sources.
History —Apr. 12, 1946, No. 303, p. 782, § 10, retroactive to Mar. 22, 1946.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 5 - Inheritance and Gift Taxes (§§ 881 — 906) › Chapter 91 - Inheritance and Gift Taxes (§§ 881 — 906) › § 892 - Compensation of administrator, executor, or trustee taxable

The perquisites, compensation or salary of any administrator, executor or trustee, whether fixed by the testator or by a competent court, or whether from a residuary legacy, shall be subject to the aforesaid tax in the same manner as if said perquisites, compensation or salary were a bequest or a legacy, and the age of said administrator, executor or trustee shall be taken into account in the same manner as if said administrator, executor or trustee were an heir, legatee or grantee of the decedent.
History —Aug. 29, 1925, No. 99, p. 790, § 4; Apr. 12, 1946, No. 303, p. 782, § 14, retroactive to Mar. 22, 1946.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 5 - Inheritance and Gift Taxes (§§ 881 — 906) › Chapter 91 - Inheritance and Gift Taxes (§§ 881 — 906) › § 893 - Notification of death

It shall be the duty of every administrator, executor, or trustee, or of any one of them acting in Puerto Rico, and of every ancillary administrator, agent, or person lawfully authorized to administer the estate or any portion thereof in Puerto Rico, to transmit to the Secretary of the Treasury of Puerto Rico, within the sixty (60) days following the death of the decedent whom he represents, a sworn notification of the death of said decedent, stating plainly: the name and residence of said decedent; the date of his death; the name of the notary with whom the will of such decedent is recorded if a will has been executed; and, as nearly as possible, the amount, valuation, description, and location of the estate of the decedent; the names and degrees of relationship of the heirs, devisees, and legatees and the proportionate part and description of the estate accruing to each; and the names of all executors, administrators, or trustees of the estate of said decedent; Provided, That whenever the said notification is not presented within the term and in the manner herein established, or within the extension of time hereinafter authorized, there shall be added to the tax by way of penalty an amount equal to two percent (2%) of the amount due for each period of thirty (30) days or fraction of such period that the lack of notification exists; but the said penalty shall in no case exceed five percent (5%) of the amount due. The said notification shall be sent together with the tax receipts for the fiscal year in which the notification is filed as proof that the property tax imposed has been fully paid on said estate; Provided, That in the event that there have been property taxes deferred according to law, it shall be sufficient to present the receipt for the last installment due. And any administrator, executor, or trustee failing to file said notification with the Secretary of the Treasury within the period herein specified shall be guilty of a misdemeanor, and, upon conviction thereof, shall be personally imposed a fine of from one hundred (100) to one thousand (1,000) dollars; Provided, That the Secretary of the Treasury of Puerto Rico may grant an extension of time which shall not exceed (60) days for the filing of the said notification whenever he is duly notified of the impossibility of filing the same within the term established, provided the corresponding request is made to him before the expiration of the period prescribed for the filing of the said notification.
History —Aug. 29, 1925, No. 99, p. 790, § 5; July 22, 1935, No. 34, p. 420, § 2; May 6, 1939, No. 136, p. 672, § 1; Apr. 12, 1946, No. 303, p. 782, § 15; May 12, 1952, No. 386, p. 766, § 1.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 5 - Inheritance and Gift Taxes (§§ 881 — 906) › Chapter 91 - Inheritance and Gift Taxes (§§ 881 — 906) › § 894 - Sale or mortgage of estate to pay property and inheritance taxes

Whenever any heir, mandatary, or legatee, has no money in cash wherewith to pay property taxes on inherited properties, or to pay the inheritance tax levied by this act, the Secretary of the Treasury of Puerto Rico is hereby authorized to permit the executor, administrator or trustee, through the proper legal procedure, to sell or encumber by mortgage security or otherwise, such portion of the estate as may be absolutely necessary to raise funds sufficient to pay the aforesaid taxes, and in said cases the registrars of property are hereby authorized to record such documents as may be executed for that purpose.
History —Aug. 29, 1925, No. 99, p. 790, added as § 5a on Apr. 27, 1933, No. 20, p. 232, § 1; July 22, 1935, No. 34, p. 420, § 3; Apr. 12, 1946, No. 303, p. 782, § 15, retroactive to Mar. 22, 1946.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 5 - Inheritance and Gift Taxes (§§ 881 — 906) › Chapter 91 - Inheritance and Gift Taxes (§§ 881 — 906) › § 895 - Appraisal of estates

Whenever so ordered by the Secretary of the Treasury, all estates of decedents and all estates granted or the object of a grant, as the case may be, shall be appraised at their market value as of the date of the death or of the grant.
History —Aug. 29, 1925, No. 99, p. 790, § 6; Apr. 27, 1933, No. 20, p. 232, § 2; Apr. 12, 1946, No. 303, p. 782, § 15; May 10, 1949, No. 233, p. 724, § 1, eff. July 1, 1949.