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Puerto Rico-based corporations that intend to send funds to the U.S. [15] However, notwithstanding these requirements, some residents of Puerto Rico are not required to file federal income tax returns because their income falls below the poverty threshold. As of 2019, the median income of Puerto Rico was $20,166, which falls below the poverty ...
The Internal Revenue Code of Puerto Rico (Spanish: Código de Rentas Internas de Puerto Rico) is the main body of domestic statutory tax law of Puerto Rico organized topically, including laws covering income taxes, payroll taxes, gift taxes, estate taxes, and statutory excise taxes. [1]
Under provisions known to residents on the island as Act 22, the law's original name, individual investors who haven't previously lived in Puerto Rico between 2006 and 2012 can get a 0% tax rate ...
0% tax on dividend and interest income, short-and-long term capital gains for new Puerto Rico residents, and on federal taxes on Puerto Rico-sourced income. Tax savings on investment portfolio returns. Tax decree is valid until 2036. The act has come under criticism. In early 2021, in the aftermath of the victory for statehood in the 2020 ...
Puerto Rico residents impacted by severe storms that hit the island in early Feb. 2022 have been given an extension until June 15, 2022, to file individual and business tax returns and make their...
Since Act 20 was enacted in 2012, the Puerto Rico Department of Economic Development has approved at least 3,198 tax exemption decrees, according to data from the Puerto Rico Institute of Statistics.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Puerto_Rico_Tax_and_Customs_Laws&oldid=414507345"
FEMA's recent disaster declaration opens the door for extended federal tax filing and payment deadlines for victims of Hurricane Fiona in Puerto Rico.