Act 60 - Manufacturing
Act 60-2019 Section 2061.01 [Ex Act 73]
Effective January 1, 2020, the Puerto Rico Tax Incentives Code (Act 60-2019) consolidates, makes changes to, and eliminates the various legacy Puerto Rico incentives laws, including Acts 20, 22, 73 and 74. Interested parties can no longer apply for tax incentives under the old Acts.
Benefits
4% income tax rate
100% exemption on dividend distribution for PR residents
75% exemption on real and personal property taxes
50% exemption on municipal revenue taxes
100% exemption on sales tax
75% exemption on construction excise taxes
15 year term + 15 year extension
Eligible Activities
Industrial Facility
Any permanent industrial facility for the commercial scale manufacture of a product
Industrial Research
The scientific or industrial research and development .mption on dividend distribution for PR residents
Requirements
Sworn statement application containing:
- Name, address, telephone and EIN of entity
- Names and SS numbers of all owners
- Contact info of representative
- Description of Eligible Business
Cert. of Incorporation
Financial Statements
Negative Debt Certificates from Hacienda, CRIM, Dept. of Labor, State Insurance Fund, and Tourism Company.
Construction Permit and Plans
Use Permit and other compliance
Certificate of Insurance Coverage
Real and Personal Property Inventory
Job creation estimates
Total investment detail
Sources and Uses of Funds
Estimated opening date
Property Safety Plan, Handicapped Facilities, Conservation Plan, and Personnel Training Plan.