Puerto Rico Considers Bill to Amend Tax Code, Promote Renewable Energy Equipment Exemptions

• Puerto Rican House of Representatives considered Bill No. PC0667 on May 12
• Bill aims to amend the Internal Revenue Code for a New Puerto Rico
• Exempts certain equipment from sales and use tax if used to generate up to 20,000 kilowatts of electricity
• Requires distributors or manufacturers to submit declarations of compliance with industry standards
• Requires certification of guarantees for solar electric equipment and electricity-generating machinery
• Law would take effect immediately upon approval

Source: news.bloombergtax.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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