Tax Insight
5 Tax matters you should consider before relocating to Puerto Rico
For the past decades, the Government of Puerto Rico has been offering different tax benefits and incentives to local and foreign business entities that either established new operations in Puerto Rico or relocated them to the island. On January 12, 2012, the Government of Puerto Rico (1) enacted Act 20 in an effort to turn the island into an international hub of export services and, (2) enacted Act 22 to promote that individuals relocate to the island by providing certain exemptions from local income taxes.