P.R. Laws tit. 13, § 352a-1
The Secretary of the Treasury, or his authorized representatives, shall impose a penalty for each check or money order returned unaccepted by the financial institution involved and which has been issued in payment of any contribution, license fee or tax. Said penalty may be condoned if it is found that the return is due to reasonable causes. The penalties to be imposed are as follows:
(1) Five percent (5%) of the amount of said check or money order, or twenty-five (25) dollars, whichever is greater if the check or draft that has not been accepted by the financial institutions, is for an amount which does not exceed ten thousand (10,000) dollars.
(2) Ten percent (10%) of the amount of the check or money order that has not been accepted by the financial institution if it is in excess of ten thousand (10,000) dollars.
Said penalties shall be imposed by the Secretary of the Treasury, or his authorized representatives, after the Government Development Bank has redeposited said check or money order.
When the returned check or money order is for the payment of a tax with a discount, said right shall be lost and the penalty shall be determined on the basis of the original tax.
Said penalties shall be added to the contribution, tax or license that would have been paid with the check or money order that is not accepted by the financial institution and shall be collected at the same time, in the same way and as part of the tax. If the tax had already been paid prior to the imposition of the penalty, it shall be collected in the same way as the tax. The penalty provided in this section shall be in addition to any other administrative action that may proceed, shall apply separately for each check or money order that is not accepted by the financial institution, and shall be apart from any other additions, interest, late charges or penalties established in the tax laws, for failure to meet the tax liability.
History —July 13, 1978, No. 46, p. 513, added as § 3 on Dec. 6, 1993, No. 102, § 4.