P.R. Laws tit. 26, § 703
(1) The insurer shall file with the Commissioner as part of its annual statement, a statement of premiums for insurance and considerations for annuities received and on which tax is payable pursuant to § 702 of this title. Such tax statement shall be according to such form as shall be prescribed and furnished by the Commissioner. In every such statement the reporting of premiums for tax purposes shall be on a written basis or on a paid-for basis consistent with the basis required by the annual statement.
(2) Taxes as collected by the Commissioner shall be deposited and handled in the same manner as other public funds.
(3) The tax statement required under subsection (1) of this section shall become effective commencing as to premiums and considerations received during the first full calendar year which immediately follows the effective date of this Code. As to all premiums and considerations prior to such calendar year, report and payment thereof shall be as provided by laws in force immediately prior to the effective date of this Code.
History —Ins. Code § 7.030.