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LEGAL AUTHORITY
Act 73-2008,
known as the Economic Incentives for the Development of Puerto Rico Act regulates the tax incentive program for industries in Puerto Rico.
Act 83-2010,
known as the Puerto Rico Green Energy Incentives Act establishes Government of Puerto Rico's public policy regarding the diversification of electricity sources and energy technology infrastructure.
Act 20-2012,
known as the Act to Promote Exportation of Services 2012, provides the appropriate environment and opportunities to develop Puerto Rico as an international service center.
MISSION
Grant tax exemptions in a viable way and in harmony with public policy to attract, establish, develop and retain the greatest number of industries; to create more and better direct and indirect jobs and contribute to the industrial and economic growth of Puerto Rico.
ORGANIZATIONAL STRUCTURE
- Administration
- Legal Affairs
- Office of the Executive Director
PROGRAM
Tax Exemption Claims Evaluation
PROGRAM
Program Description
Facilitates the establishment and development of industries to achieve industrial and economic growth through job creation. These efforts are achieved by granting tax exemptions as an incentive to create more jobs.
| Statistical Data |
2011 |
2012 |
2013 |
|
| Approved cases -Act 83 |
6 |
20 |
20 |
| Approved cases-Act 135 |
10 |
5 |
5 |
| Approved cases-Act 73 |
50 |
150 |
150 |
| Approved cases-Act 8 |
1 |
2 |
2 |
| Cases filed- Act 73 |
92 |
200 |
200 |
| Cases filed- Act 83 |
10 |
20 |
20 |
FISCAL YEAR 2012-2013 ADOPTED BUDGET
The adopted consolidated budget for Fiscal Year 2012-2013 amounts to $1,060,000 in Revenues from Internal Sources.
Operational expenses reflects an increase of $ 70,000, when compared to funds assigned in fiscal year 2011-2012. Processes were automated in order to provide effective services.
Revenues from Internal Sources are generated from processing tax exemption decrees as an incentive for job creation.
SUMMARY OF AVAILABLE RESOURCES
| Consolidated Budget (thousands $) |
2010 |
2011 |
2012 |
2013 |
|
| Program |
|
| Operational Expenses |
Actual |
Actual |
Budget |
Adopted |
| Tax Exemption Claims Evaluation |
844 |
888 |
990 |
1,060 |
| Subtotal, Operational Expenses |
844 |
888 |
990 |
1,060 |
| Total, Program |
844 |
888 |
990 |
1,060 |
| |
| Funding Sources |
|
| Operational Expenses |
|
| Revenues from Internal Sources |
844 |
888 |
990 |
1,060 |
| Subtotal, Operational Expenses |
844 |
888 |
990 |
1,060 |
| Total, Funding Sources |
844 |
888 |
990 |
1,060 |
| |
| Expense Category |
|
| Operational Expenses |
|
| Payroll and Related Expenses |
692 |
727 |
797 |
825 |
| Rent and Utilities |
11 |
14 |
15 |
16 |
| Purchased Services |
112 |
129 |
126 |
128 |
| Transportation Expenses |
0 |
0 |
1 |
1 |
| Professional Services |
1 |
3 |
7 |
3 |
| Other Expenses |
6 |
9 |
7 |
11 |
| Previous Years Debt Payments |
14 |
2 |
0 |
0 |
| Equipment Purchases |
3 |
2 |
5 |
70 |
| Office Supplies and other Materials |
3 |
2 |
30 |
4 |
| Advertising and Media Expenses |
2 |
0 |
2 |
2 |
| Subtotal, Operational Expenses |
844 |
888 |
990 |
1,060 |
| Total, Expense Category |
844 |
888 |
990 |
1,060 |
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