(a) A ninety percent (90%) income tax exemption is hereby granted to individuals, corporations or associations of the proceeds of the sale tickets to artisan, agricultural, artistic and cultural fairs and sports events, provided the following requirements are met:\n(1) The activity or event has to be held within one of the special zones designated by the Board, pursuant to this chapter.\n(2) At least fifty percent (50%) of the persons employed for this activity or event by the person who claims the exemption, shall be bona fide residents of Castañer.\n(b) The Department of the Treasury shall establish through regulations, the procedures to enjoy the exemptions.\nHistory —Mar. 15, 1996, No. 14, § 12.
Puerto Rico Legal Code