Beneficiaries of the Individual Investor Incentive program under Law 60, or the Puerto Rico Tax Code, paid nearly $100 million in taxes in 2017 and 2018, according to the Department of Economic Development and Commerce’s (DDEC, in Spanish) “Annual Report on the performance of the incentives granted under the Puerto Rico Incentives Code.” The first […]
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 Department of Economic Development and Commerce (DDEC, in Spanish) confirmed that the guidelines are ready to request the “Apoyo Energético” incentive, amounting to up to $25,000, to install sustainable energy systems on small- and mid-sized businesses. This program was developed to help SME’s stabilize their operations, as well as reduce costs and long-term energy […]
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