Puerto Rico Gov. Ricardo Rosselló submitted a new Incentives Code Bill to the island’s legislature, looking to “establish a new transparent and efficient process for the granting and overseeing of all incentives.”
A round of inspections by the Puerto Rico Fire Department of businesses located along busy Piñero Avenue in San Juan uncovered that dozens of commercial establishments are not up to code, agency Chief Ángel Crespo-Ortiz said Thursday.
On January 31, 2011, Puerto Rico enacted a new Internal Revenue Code (the “2011 Code”), which reformed the island's tax system, containing significant changes for individual and corporate taxpayers.