P.R. Laws tit. 23, § 11024h
(a) Permissive revocation.—
(1) When an eligible business fails to meet any of the obligations imposed thereon by this subchapter, the regulations adopted thereunder or by the terms of the special job creation agreement.
(2) When the eligible business fails to comply with the creation of eligible incremental jobs as established for those purposes in the agreement.
(3) If the eligible business fails to comply with its tax liability under the code and other tax laws of Puerto Rico.
(b) Mandatory revocation.—
(1) The Executive Director shall revoke any Special Job Creation Agreement granted under this subchapter when the same has been obtained by fraud or misrepresentation as to the nature of the eligible business or the eligible incremental job generated, or any other facts or circumstances that, wholly or partially, led to granting the agreement.
(2) In the case of this revocation, the taxpayer shall be deemed to have filed a false or fraudulent return with the intent to evade taxes and, consequently, be subject to the penal provisions of the Code. Taxes owed, which were until then exempt and unpaid, shall become due and payable from the date they would have been due and payable were it not for the special job creation agreement, and shall be charged and collected by the Government official with authority to do so.
(c) Procedure.— In case of revocation of an agreement entered into as provided in this subchapter, the eligible business shall be able to appear before and be heard by the Executive Director or any other person the latter designates for such purpose. Said designee shall notify the Executive Director of his/her conclusions and recommendations.
History —Jan. 10, 2013, No. 1, § 4.9; renumbered as § 4.10 on July 5, 2013, No. 54, § 6.