Puerto Rico Lower House Considers Bill on Tax Exemption for Electric Power Generator Equipment, Machinery

The Puerto Rican House of Representatives May 12 accepted for consideration Bill No. PC0667, to partially amend the Internal Revenue Code for a New Puerto Rico. The bill includes measures to: 1) exempt from sales and use tax equipment or machinery, including parts and accessories, used to generate up to 20,000 kilowatts of electricity by any means, including wind, solar, or internal combustion; 2) require distributors or manufacturers to submit declarations confirming that the items comply with industry standards and specifications; and 3) require distributors or manufacturers to certify that solar electric equipment is guaranteed for at least five years, ...