Puerto Rico’s Act 22, also known as the Individual Investors Act, has become a hot-button topic. Enacted in 2012, the Act aims to stimulate the island’s economy by attracting high-net-worth individuals with significant tax breaks. But has it been a boon or a bane for Puerto Rico? Let’s dive into the Act’s impact and how Puerto Ricans themselves view it. The Allure of Act 22: Tax Breaks Galore Act 22 offers substantial tax incentives to individuals who establish bona fide residency in Puerto Rico. These incentives include a 100% exemption…
Read MorePuerto Rico’s Act 22: A Tax Oasis with Mixed Blessings
