UNIVERSITY OF PUERTO RICO AS AN EXEMPT ENTITY Sample Clauses

UNIVERSITY OF PUERTO RICO AS AN EXEMPT ENTITY. THE UNIVERSITY OF PUERTO RICO carries out a public service of the Commonwealth of Puerto Rico and, as a result, it is exempt from the payment of income taxes for which reason it will not assume any payment related thereto, as provided in Law No. 1 of January 20 of 1966, as amended (18 P.R. Stats. §612(f)).
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