Tax Incentives in Puerto Rico | Tax Act 60 (Tax Act 20/22) | Living In Puerto Rico

Overview of Puerto Rico’s Tax Act 60 Tax Incentives – Formerly Tax Act 20 & 22

Tax Act 60 encourages business development in Puerto Rico for U.S. citizens and permanent residents with tax savings and incentive programs.

Read my full article for links and detailed information - https://jentheredonethat.com/tax-act-60/

Act 60 Export Services – for Businesses (Formerly Tax Act 20)
Primary Benefits of the decree:
• 4% corporate tax rate
• 0% tax rate for distributions from earnings and profits
• 50% tax exemption on municipal taxes “Patente” paid with annual Volume of Business declaration form
• 75% tax exemption on municipal and state property taxes

Export Service Businesses export their goods or services to jurisdictions outside Puerto Rico.

Export Services Includes:
• Project Management
• Software as a Service (SaaS)
• Consulting firms
• Graphic design companies
• Call centers
• Crypto Start-ups
• Research & Development projects
• Manufacturing

Tax Act 60 Individual Resident Investor – for Individuals (Formerly Tax Act 22)
• 0% tax rate on all dividends
• 0% tax rate on all interest
• 0% tax rate on all short-term and long-term capital gains
• 0% tax rate on all cryptocurrencies and other crypto assets

There are three tests you must pass to become a bona fide Puerto Rican resident:
• Presence test: Spend at least 183 days of the year in Puerto Rico or fewer than 90 days in the US
• Tax home test: Set up your office or primary workplace in Puerto Rico
• Closer connection test: Demonstrate stronger ties to Puerto Rico than to the US

These tax incentives are granted for long-haul residents. Forget about loopholes to live here half a year and receive all the benefits – Yes, people have seriously asked me if that is possible!

Tax 60 has tax incentives and savings for more industries and programs. Read More Here https://jentheredonethat.com/tax-act-60/

FTC Disclosure: this video is not sponsored.

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