DDEC fines Politank Corp. $80,000 and warns it could lose the decree

On July 8, 2026, NotiCel reports that the Department of Economic Development and Commerce imposed an $80,000 fine on Politank Corp. after concluding that the company failed for several years to meet the requirements of its tax decree under Act 20-2012. It warned that, if the deficiencies are not corrected, it could face everything from nullity to revocation of the benefit. The information comes from a supplemental memorandum from secretary Carlos J. Ríos Pierluisi to Senate president Thomas Rivera Schatz, as part of Information Request 2026-0099. NotiCel names the secretary that way. This magazine copies that page.

A new audit by the Office of Business Incentives found that Politank Corp. did not file the Exempt Business Annual Reports for 2020, 2021, and 2025, and that those for 2017, 2019, 2022, 2023, and 2024 were filed late or incomplete, in violation of Article 13. The review also concluded that there was an alleged transfer or change of control without the prior authorization of Article 10(c). The Office issued a Deficiency Notice of $10,000 for each report failure, $80,000 in total, for the years 2017, 2019, 2020, 2021, 2022, 2023, 2024, and 2025. Politank Corp. has 20 calendar days to respond and 15 days to complete deficient reports. If it does not show that the change of control was authorized, that an exception applied, or that there was retroactive approval, the Office may declare the decree void from the date of the transaction. Repeated failure to file reports, the memorandum adds, is additional grounds to revoke. Carlos J. Ríos Pierluisi explained that the new review was ordered after DDEC answered the Senate request on July 3, to avoid an appearance of partiality.

On July 1, Radio Isla covered Requests 2026-0099 and 2026-0100 from Thomas Rivera Schatz, with a 72-hour deadline. Those requests and this fine are two acts. They are not collapsed. The reader who wants the memorandum has the NotiCel URL at the foot.

Source: NotiCel. https://noticel.com/noticias/20260708/ddec-multa-en-80-mil-a-politank-corp-y-advierte-que-podria-perder-decreto-contributivo/