P.R. Laws tit. 13, § 31093
(a) In general. — In determining the value of gifts, purely gratuitous as well as onerous gifts, as defined in the Civil Code of Puerto Rico, shall be both included. Notwithstanding the foregoing provisions, of the value of remunerative gifts made for services rendered to the donor, the gift shall only be deemed to be that portion of the value thereof that exceeds the amount that is properly includible in the gross income of the person receiving the gift under §§ 30041 et seq. of this title.
(b) Special rules for onerous gifts. — For purposes of the taxes imposed by this chapter, the market value of the obligation imposed on the person receiving the gift on the date the gift is made, shall be excluded from the value of onerous gifts. No amount whatsoever shall be excluded from such obligation if the person receiving the gift is a relative of the transferor up to the third degree of consanguinity or the second degree of affinity.
History —Jan. 31, 2011, No. 1, § 2042.03, retroactive to Jan. 1, 2011.