Ley 145 del 2001
Resumen
Esta ley enmienda la Ley de Incentivos Contributivos de Puerto Rico de 1998 para ofrecer beneficios contributivos adicionales a industrias pioneras con tecnologías innovadoras que se establezcan en la isla. Busca atraer empresas multinacionales con gran impacto económico y tecnológico, ofreciendo tasas contributivas reducidas (incluso por debajo del 2%) por períodos iniciales de 5 años, prorrogables por 5 años adicionales, si cumplen con criterios específicos de inversión, creación de empleos de alta cualificación, investigación y desarrollo.
Contenido
(No. 145)
(Approved October 4, 2001)
AN ACT
To amend clause (1) of subsection
(a) of Section 3 of Act No. 135 of December 2, 1997, as amended, known as the "Puerto Rico Tax Incentives Act of 1998," in order to provide tax benefits for pioneer core industries that establish operations in Puerto Rico under certain special criteria.
STATEMENT OF MOTIVES
Various jurisdictions around the world are striving to attract those projects of multinational enterprises which involve great technological innovations. So that these multinational enterprises may want to establish themselves in said jurisdictions, such as Malaysia and Singapore, they are being offered a package of attractive benefits such as tax exemptions, the proper infrastructure, training, special financing and low wages. Puerto Rico is able to compete to a certain extent with these jurisdictions in many of these considerations. This makes it necessary and convenient to amend the Tax Incentives Act of 1998, so that we may be able to offer additional competitive benefits for the establishment of certain pioneer core industries that will bring new or innovative technologies to the Island and have a highly significant economic impact on the industrial and economic development of our Island. The pioneer core industries must employ new or innovative technologies, generate jobs by means of substantially concentrating the manufacture of their products for the world markets, and require the development of high levels of scientific, technological, and
managerial skills, as well as the integration of research and development programs for technological improvements as an important part of the industrial operations to be conducted in Puerto Rico, including the general tax impact that would result from the payment of taxes withheld at the source on the payment of royalties when the new technology is transferred to Puerto Rico.
BE IT ENACTED BY THE LEGISLATURE OF PUERTO RICO:
Section 1.-Clause (1) of subsection
(a) of Section 3 of Act No. 135 of December 2, 1997, as amended, is hereby amended to read as follows: "Section 3.—Fixed Tax Rate on Industrial Development Income.—
(a) Fixed Tax Rate on Industrial Development Income (1) Exempted businesses that hold a decree granted under this Act shall be subject to a fixed tax rate of seven percent (7%), on industrial development income, excluding the income from investments described in subsection
(j) of Section 2 of this Act, for the entire corresponding period as provided, and from the date of commencement of operations as determined under subsections
(d) and
(i) of Section 6 of this Act, respectively, in lieu of any other tax, if any, provided by law. In the absence of any provision to the contrary, said tax shall be paid in the form and manner provided in the Puerto Rico Internal Revenue Code for the payment of income taxes in general. Exempted businesses that hold a decree granted under this Act may enjoy a fixed rate of less that seven percent (7%) established in this clause, provided the Secretary of State, after the favorable recommendation of the Secretary of the Treasury and the Executive Director and
the Board of Directors of the Industrial Development Company, determines that said reduced tax would be of benefit to the best economic and social interests of Puerto Rico, in consideration of the special nature of the particular exempted business, the technology involved, the substantial number of jobs provided, or any other benefit or factor that in his/her judgment merits such determination. (A) Notwithstanding the provisions of clause (1), the fixed rate may be reduced to less than two percent (2%), provided the Secretary of State, after the favorable recommendation of the Secretary of the Treasury and the Executive Director of the Industrial Development Company and the Board of Directors, determines that the exempted business will be a pioneer core industry in Puerto Rico, with a new or innovative technology that has not been used in Puerto Rico prior to January 1, 2000, which will have a significant economic impact on the industrial and economic development of the Island. The determination as to whether a pioneer core industry will have a significant economic impact shall be made on the basis of real factors, such as the nature of the jobs to be created; the investment in the plant, machinery and equipment; the substantial concentration of the production of one or more products for the international market; and the development of high levels of scientific, technological and management skills of the employees, in addition to
the integration of research and development and technological improvements as an important part of said industrial operations, as well as the general tax impact, including the payment of taxes withheld at the source on the royalties when the new technology is transferred to Puerto Rico. (B) The fixed rate of less than two percent (2%) shall be initially granted for five (5) years, which term may be extended for five (5) additional years if the exempted business has substantially met the standards stated above, provided it is thus recommended by the Executive Director of the Industrial Development Company, the Board of Directors, and the Secretary of the Treasury. The remainder of the industrial exemption period, if any, shall pay taxes at the minimum rate of two percent (2%), pursuant to the provisions of Section 6
(d) and
(i) of this Act. (2) ... (3) ..." Section 2.-This Act shall take effect immediately after its approval.
August 5, 2002
Elba Rosa Rodríguez-Fuentes, Esq., Director of the Office of Legislative Services of the Legislature of Puerto Rico, hereby certifies to the Secretary of State that she has duly compared the English and Spanish texts of $\underline{ ext { Act No. } 145}$ (H.B. 1496) of the $1^{ ext {st }}$ Session of the $14^{ ext {th }}$ Legislature of Puerto Rico, entitled:
AN ACT to amend clause (1) of subsection
(a) of Section 3 of Act No. 135 of December 2, 1997, as amended, known as the "Puerto Rico Tax Incentives Act of 1998," in order to provide tax benefits for pioneer core industries that establish operations in Puerto Rico under certain special criteria, and finds the same are complete, true and correct versions of each other.
Elba Rosa Rodríguez-Fuentes