Gov’t revokes 121 tax incentives decrees under Act 22
December 16, 2021
The Department of Economic Development and Commerce (DDEC, in Spanish) has revoked 121 tax incentive decrees to Act 22 (now Act 60) beneficiaries who failed to submit annual reports to the agency, as the law ...
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CPI INVESTIGATES: Puerto Rico Act 22 tax incentive fails
June 25, 2021
The jobs and economic impact anticipated by the Puerto Rico government never materialized. From being an instrument to attract millionaires and foreign investment, Act 22 went on to become a haven for cryptocurrency fans, YouTube ...
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P.R.’s Acts 20, 22 add 36K jobs, inject $1.2B from ’12 to ’19
November 13, 2019
Puerto Rico’s Act 20 and Act 22 have generated 36,222 jobs and $1.2 billion in investments on the island from 2012 to 2019, a study revealed by the Department of Economic Development and Commerce confirmed. ...
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