P.R. Laws tit. 21, § 891e
(a) Every business or industry that is established in the special economic development zone in the period comprised from the designation of said zone and ten (10) years after the same, shall be entitled for purposes of computing the income tax to a special ten percent (10%) deduction of the rent paid, for a term of ten (10) years. This deduction shall be in addition to any other granted by law, and shall not apply to successor businesses nor to sublessors.
(b) One half (½) of the net income obtained from the sale of services and industrial, tourist, cultural and agricultural products produced in the special economic development zone shall be exempted from the payment of income taxes. In order to take advantage of these benefits, these sales must take place within a period of thirty (30) years counting from the date in which they avail themselves of the benefits of this chapter. The Department of the Treasury shall establish the procedure for businesses to avail themselves of this exemption through regulations.
History —Aug. 10, 2002, No. 153, § 7.