P.R. Laws tit. 5, § 4525
(a) The cooperatives, their subsidiaries or affiliates, as well as their income from all their activities or operations, all of their assets, capital, reserves and surplus, and those of their subsidiaries or affiliates shall be exempted from the payment of all types of income tax, property taxes, excise taxes, municipal licenses fees and any other tax imposed or to be imposed in the future by the Commonwealth of Puerto Rico or any of its political subdivisions.
(b) All the shares and securities issued by the cooperatives and by any of their subsidiaries or affiliates shall be exempt, both in their total value as well as in the dividends or interest paid thereto, from the payment of any type of income tax, property tax, excise tax, municipal license or any other tax imposed or to be imposed in the future by the Commonwealth of Puerto Rico or any of its political subdivisions.
(c) Cooperatives, their subsidiaries or affiliates, as well as the income derived from their activities and operations, all of their assets, capital, reserves, and surplus, and those of their subsidiaries or affiliates shall be exempt from all types of income, property and excise taxes, as well as license fees and any other levy imposed or to be imposed in the future by the Commonwealth of Puerto Rico or any political subdivision thereof, except for the sales and use tax established in §§ 32021 and 32022 of Title 13, the tax authorized by § 33344 of Title 13, the taxes imposed under §§ 32281, 32282 and 32283 of Title 13, the value-added tax established in § 32211 of Title 13, and excise taxes imposed under §§ 31621-31634 of Title 13, known as the “Internal Revenue Code for a New Puerto Rico”.
(d) The tax exemptions granted to the subsidiaries or affiliates of the cooperatives pursuant to this section shall apply while said subsidiaries or affiliates are under the control of one (1) or more cooperatives.
History —Sept. 1, 2004, No. 239, § 23.0; June 30, 2013, No. 40, § 5; Sept. 30, 2015, No. 159, § 37.