What are we advocating for?
Eliminate the provisions of Law 22, now included in Law 60-2019, better known as the “Puerto Rico Incentives Code.”
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What is Law 22?
“A Law That Encourages The Transfer Of Individual Investors To Puerto Rico»
Law 22
Now included in Law 60-2019, better known as the “Puerto Rico Incentives Code.”
Through this law, individuals who did not reside in Puerto Rico between 2006 and 2012 can request a variety of exemptions from the Department of Economic Development and Commerce (DDEC), including:
• 100% income tax exemption on all income, dividends and interest
• 100% exemption from income and capital gains taxes.
The main requirements to qualify are:
Not having resided in Puerto Rico during the period, from 2006 to 2012
Residing in Puerto Rico for at least six months of the previous taxable year
Not having a tax domicile outside of Puerto Rico
Additionally, the person must donate $10,000 to nonprofit organizations
Buy a house in Puerto Rico within two years of obtaining the decree
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