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Sebastián Negrón-Reichard, secretario del Departamento de Desarrollo Económico y Comercio de Puerto Rico.
The Puerto Rico Department of Labor and Human Resources headquarters in San Juan.
Sebastián Negrón-Reichard, secretary of the Puerto Rico Department of Economic Development and Commerce, during the trade mission to the Dominican Republic.
Puerto Rico’s expanding tax incentives under Act 60 continue to draw debate over their economic impact and calls for stronger oversight. (Credit: May1985 | Dreamstime.com)
From left: Luis B. Méndez del Nido, general counsel of the Puerto Rico Department of Economic Development and Commerce’s Office of Legal Counsel and Legislative Affairs; agency Secretary Sebastián Negrón; and Ernesto J. Zayas-García, director of the department’s Business Incentives Office, during a press briefing on Act 60 oversight measures in San Juan.
Sen. Ron Wyden has asked Pantera Capital founder Dan Morehead, pictured, to explain his use of Puerto Rico’s Act 60 tax incentives. (Credit: Salt.org)
Ice is classified as an essential product during emergencies under Puerto Rico’s Department of Consumer Affairs, a designation highlighted in House Bill 841.
Democratic Rep. Nydia Velázquez of New York
Investors under Act 60 receive tax incentives including a 4% fixed income tax rate, a 75% property tax exemption and a full exemption on capital gains accrued while residing in Puerto Rico.

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