Puerto Rico

IS NOT FOR SALE

Vision for a Fair and Transparent Puerto Rico

We, the Puerto Rico No Se Vende Coalition, alongside other grassroot and nonprofit organizations are dedicated to addressing the negative impacts of economic inequality in Puerto Rico and promoting transparency and government integrity.

Our Commitments

Economic development
Protection of Disadvantaged Communities
Protection of Workers and Pensions
Transparency, Accountability and Anti-Corruption
Community Participation and Collaboration

Meet all the organizations committed to Puerto Rico

Read Our Agreement

It's Time to Abolish Act 22

In the decade since the law was passed, some of its many challenges and unanticipated impacts have been highlighted. Some of these are:

Lack of Transparency

The Department of Economic Development (DDEC), the agency in charge of granting and supervising the decrees, has indicated that it does not have the necessary tools to supervise compliance with the decrees granted under Law 22.

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Tax Evasion

In 2021, the IRS announced an audit of taxpayers who have claimed benefits through Puerto Rico Act 22, without meeting the requirements of IRS Section 937, Residency Rules and Sources Involving Possessions.

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Economic Impact

As published by the Treasury in March 2023 in its Tax Expenditure Report for Taxable Years 2020 to 2026, the Government of Puerto Rico stopped generating around $4,400 million as a result of Act 22.

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Displacement

The purchase of properties and land by individual investors has disproportionately increased property values in the areas and towns where their investment has been concentrated. Most Puerto Ricans are unable to pay the inflated purchase prices and inflated rents of today's market.

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Environmental Impact

The property and land purchases by individual investors has had a direct impact on the environment, especially land near the coasts and those near natural landscapes, which are preferred by investors.

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