Esta ley enmienda el Código de Rentas Internas de Puerto Rico de 1994 para establecer que los impuestos sobre combustibles, petróleo crudo, productos inacabados y productos finales derivados del petróleo, así como cualquier otra mezcla de hidrocarburos, se calcularán utilizando una temperatura corregida a 60 grados Fahrenheit (F) como base. El objetivo es estandarizar la medición del producto y simplificar las conversiones para el Departamento de Hacienda, alineando las leyes fiscales de Puerto Rico con las prácticas prevalecientes en los mercados petroleros mundiales.
(Approved March 14, 2004)
To add subsection
(c) to Section 2010 and amend subsection
(a) of Section 2011 of Chapter 2 of Subtitle B of Act No. 120 of October 31, 1994, as amended, known as the "Internal Revenue Code of Puerto Rico of 1994," to establish that the corresponding taxes under these Sections shall be computed using the temperature corrected to 60 degrees Fahrenheit (F) as a base.
Act No. 120 of October 31, 1994, as amended, known as the "Internal Revenue Code of Puerto Rico of 1994" (the Code), establishes in Section 2011 that the tax on crude oil, unfinished products and end products derived from oil, as well as any other hydrocarbons mixture, shall be computed on the number of barrels at room temperature. In addition, in the case of gasoline, aviation fuel and diesel, is provided by regulations that the excise taxes imposed under Section 2.005 of the revoked "Excise Tax Act of 1987," equivalent to Section 2010 of the Code, shall be applied on the total number of gallons determined, based on the normal temperature observed. These amounts thus determined represent the base for the imposition of the respective excise taxes.
The prevailing practice in the world markets with regard to oil is to use a standard temperature of 60 degrees Fahrenheit (F) to determine volume. Therefore, the invoices and shipping documents of oil imported to the Island show the volume based on this standard temperature in the industry.
Consequently, the provisions of the Code cited above, and the regulations, force the officials of the Department of the Treasury and the importers and distributors, to constantly make temperature conversions to determine the tax base of these products. This situation also affects the importers and distributors since these changes in temperature cause fluctuations in the amounts of these products, which creates a state of unrest on the payment of excise taxes.
This Act amends Sections 2010 and 2011 of the Code to establish that the base to determinate the excise taxes shall be equivalent to a temperature of 60 degrees Fahrenheit (F). The intention is to simplify the conversions that the officials of the Department of the Treasury are bound to perform. Furthermore, it is intended to standardize the measuring of the product to a single temperature reading at the time of imposing the excise tax. Through the approval of this bill, the Puerto Rico tax laws shall be brought into line with the prevailing practices in the petroleum markets of the world.
Section 1.- Subsection
(c) is hereby added to Section 2010 of Chapter 2 of Subtitle B of Act No. 120 of October 31, 1994, as amended, to read as follows: "Section 2010. - Fuel
(a) ...
(b) ...
(c) The tax on all transactions and transfers of the fuels taxes in this Section shall be computed on the basis of a temperature corrected at 60 degrees Fahrenheit (F). The volume of fuel subject to the payment of excise taxes shall be the total gallons dispensed from the tanks of the purveyor to the tanks
or trucks of the local importer, distributor or manufacturer, as the case may be, as evidenced by the measures taken and certified by the authorized inspector before and after the initiation of the transfers. .." Section 2.- Subsection
(a) of Section 2011 of Chapter 2 of Subtitle B of Act No. 120 of October 31, 1994, as amended, is hereby amended to read as follows: "Section 2011.- Crude Oil, Unfinished Oils and End Products Derived from Petroleum and any other Hydrocarbon Mixtures
(a) In addition to any other excise tax fixed in this Subtitle, a tax shall be levied, collected and paid for the use in Puerto Rico of crude oil, unfinished oils or end products derived from oil and any other hydrocarbon mixture, at the rates fixed in the following table:
| Price Index per Barrel | |||
|---|---|---|---|
| Up to | $16.1 | $24.01 | Over |
| to | to | ||
| $16.00 | $24.00 | $28.00 | $28.00 |
| Excise Tax per Barrel or Fraction thereof | |||
| $6.00 | $5.00 | $4.00 | $3.00 |
In the case of refineries or petrochemical companies that as part of their oil refining process obtain volume gain from the final product, such gain shall be subject to the excise tax imposed by this Section.
For the purposes of this Section, the term "use" shall include the introduction, use, consumption, sale, acquisition and transfer in Puerto Rico of crude oil or oil products taxed in this Section. The tax on all transactions and transfers of the oil products taxed in this Section shall be computed on the basis of a corrected temperature of 60 degrees Fahrenheit (F). The volume of fuel subject to the payment of excise taxes shall be the total number of barrels dispensed from the tanks of the provider to the tanks or trucks of the local importer, distributor or manufacturer, as the case may be, as evidenced by the measures taken and certified by the authorized Federal Customs Inspector and the Department of Consumer Affairs, before and after the initiation of the transfer.
(b) ...'
Section 3.- This Act shall take effect immediately after its approval.
I hereby certify to the Secretary of State that the following Act No. 80 (H.B. 3375) of the $7^{ ext {th }}$ Session of the $14^{ ext {th }}$ Legislature of Puerto Rico:
AN ACT to add subsection
(c) to Section 2010 and amend subsection
(a) of Section 2011 of Chapter 2 of Subtitle B of Act No. 120 of October 31, 1994, as amended, known as the "Internal Revenue Code of Puerto Rico of 1994," to establish that the corresponding taxes under these Sections shall be computed using the temperature corrected to 60 degrees Fahrenheit (F) as a base, has been translated from Spanish to English and that the English version is correct.
In San Juan, Puerto Rico, today $24^{ ext {th }}$ of June of 2005.
Luis E. Fusté-Lacourt Director