Exemption to Porters of Air Transport Services, formerly Act 135

Our White Paper on Exemptions to Public Porters of Air Transport Services, Chapter 11 of Subtitle B of the new Code (formerly Act 135) summarizes key information as to eligible activities, terms of the Decree and tax benefits that any person or entity providing air transport services as a public carrier must be aware of.

Among the tax benefits that are available is 100% income tax exemption on the net income from those eligible activities during the entire exemption period, no federal income tax on income sources in Puerto Rico, 100% tax exemption on movable and immovable property, and 100% exemption on Municipal License taxes.

flying airplane