Espacios Abiertos warns $400 million reduction may undermine labor force incentives. #NewsismyBusiness
Rep. Nydia Velázquez seeks to make digital asset income federally taxable for mainland investors on the island. #NewsismyBusiness
Known for innovative, favorable tax climate, the Cayman Islands finishes first in 2024, with the Dominican Republic rounding out the top 10. #NewsismyBusiness
The study involved an online experiment using fictitious home buyers. #NewsismyBusiness
A new report reveals significant campaign contributions from Act 22 beneficiaries. #NewsismyBusiness
Raúl Burgos explains how these remote workers can bring innovation to the island. #NewsismyBusiness
Puerto Rico No Se Vende study highlights political donations from tax break beneficiaries and the government analyzes the performance of economic incentives. #NewsIsmyBusiness
Transparency groups explore what they called “questionable charitable giving practices” to maintain tax breaks. #NewsismyBusiness
An audit revealed gaps in compliance and regulation for incentives under acts 20 and 22. #NewsismyBusiness
Aimed at educating entrepreneurs, community leaders, founders and investors on how to "take advantage of the benefits of Law 60."
With this Supreme Court panel’s decision, eight judges so far have ordered turning over the data.
The actions came from the agency’s Incentives Office.
The Department of Economic Development and Commerce (DDEC, in Spanish) has revoked 121 tax incentive decrees to Act 22 (now Act 60) beneficiaries who failed to submit annual reports to the agency, as the law required. Carlos Fontán, director of the DDEC’s office of business incentives in Puerto Rico, said in April, the agency began […]
The jobs and economic impact anticipated by the Puerto Rico government never materialized. From being an instrument to attract millionaires and foreign investment, Act 22 went on to become a haven for cryptocurrency fans, YouTube personalities and consultants. By Luis J. Valentín Ortiz, Joel Cintrón Arbasetti and Dalila M. Olmo LópezCenter for Investigative Journalism A […]
Puerto Rico’s Act 20 and Act 22 have generated 36,222 jobs and $1.2 billion in investments on the island from 2012 to 2019, a study revealed by the Department of Economic Development and Commerce confirmed. According to the study on the performance of the government’s incentives programs, commissioned to the Estudios Técnicos research firm, the […]
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