P.R. Laws tit. 13, § 33232
(a) The Secretary shall fix:
(1) The amount of the bond to be posted for any private or public bonded warehouse and for any industrial plant;
(A) The amount of the bond shall be based on a specific percentage of the value of taxes collected on stored, rectified, bottled or canned, manufactured, or distilled products.
(B) In the case of warehouses, the amount of the bond shall be determined based on the capacity and effective use thereof.
(C) In the case of rectifiers, bottlers or canners, manufacturers, and distillers, the amount of their bonds shall be determined based on the average of gallons of bottled or canned alcoholic beverages or distilled spirits, respectively, during the last fiscal year; and
(2) The amount of the bond to be posted by distillers, rectifiers, and manufacturers, in addition to the bond required in § 32447 of this title to secure the taxes determined or computed on distilled spirits or alcoholic beverages to be removed from industrial plants for the purposes established under §§ 32401 et seq. of this title.
(b) Approval of bond. — Bonds shall be approved by the Secretary and these shall constitute sureties from duly accredited insurance companies or other securities, as the Secretary may determine. These bonds shall respond for taxes, interest, and surcharges, as well as administrative fines imposed for violating the provisions of §§ 32401 et seq. of this title and its regulations.
(c) Exemption from posting bond. — The agencies of the Government of the United States, the agencies of the Government of Puerto Rico, the United States Armed Forces, and international organizations are hereby exempt from the requirement of posting bond.
(d) Waiver of bond. — The Secretary may waive any person authorized to acquire duty-free alcohol to be used or dispatched by medical prescription or for official use in hospitals, clinics, and laboratories pursuant to § 32442 of this title.
(e) Power to refuse to approve bond. — The Secretary may refuse to approve a bond when the chief officer or his/her business representatives have been convicted of a felony against internal revenue laws or regulations, or when the guarantor insurance company has not been recognized by the Insurance Commissioner of Puerto Rico.
(f) Bond register; certification of statements and inspection of establishments. — The Secretary shall register the bonds posted by taxpayers, as required under §§ 32401 et seq. of this title, certify statements, inspect establishments, and examine products subject to taxation and license pursuant to §§ 32401 et seq. of this title, or which could be subject to taxation in the future under other laws.
History —Jan. 31, 2011, No. 1, § 6053.02, retroactive to Jan. 1, 2011.