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Mission and Vision
STATUTES & REGULATIONS
Applications & Filing Fees
Sworn Statement & Notifications
Terms and Conditions
The history of the Office of Industrial Tax Exemption (“OITE”) is intertwined with the creation and transformation of Puerto Rico’s Industrial Incentives Program. Such program has a history of more than sixty (60) years and has been an essential tool for the transformation of Puerto Rican’s Economy.
The Industrial Incentives Program was created by virtue of Act No. 184 of May 13, 1948 in order to foster the industrial development in Puerto Rico and achieve the transformation from an agrarian to an industrial economy. However, it was not until the adoption of Act No. 6 of December 15, 1953, that the OITE was created as the body in charge of administering such incentives program, becoming the responsible for the administrative processes related to the submittal and granting of tax exemption decrees.
Although currently the OITE is an Individual Administrator, ascribed to the Department of Economic Development and Commerce of Puerto Rico (“DDEC”, as its Spanish acronym), prior to the approval of Act No. 73 of May 28, 2008, also known as the “Economic Incentives Act for the Development of Puerto Rico”, the OITE initially responded to the Governor of the Commonwealth of Puerto Rico and later to the Secretary of the Department of State.
As a government agency ascribed to the DDEC, the OITE is responsible for facilitating the granting of incentives and tax exemptions in harmony with the economic policy of Puerto Rico to attract, establish, develop and retain industries in order to create more and better jobs, and contribute to the industrial and economic growth of Puerto Rico.