How can I minimize my crypto tax liability in Puerto Rico?

3 answers

• Dec 26, 2021 · 3 years ago
  As a crypto investor in Puerto Rico, you have the opportunity to take advantage of Act 60, also known as the Export Services Act. This act allows individuals and businesses to benefit from a 4% tax rate on their export services income. Cryptocurrency investments can be considered export services, so you may be eligible for this reduced tax rate. However, it's important to consult with a tax professional who is familiar with Puerto Rico's tax laws to ensure you are taking full advantage of this opportunity.
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• Dec 26, 2021 · 3 years ago
  To minimize your crypto tax liability in Puerto Rico, you can also consider becoming a bona fide resident of the island. By establishing residency in Puerto Rico, you may qualify for certain tax incentives, such as Act 22, which offers significant tax benefits for individuals who move to Puerto Rico. This can help reduce your overall tax liability, including taxes on your cryptocurrency investments. Again, it's crucial to seek guidance from a tax professional to navigate the residency requirements and tax implications.
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• Dec 26, 2021 · 3 years ago
  At BYDFi, we understand the importance of minimizing your crypto tax liability. Puerto Rico offers unique tax advantages for crypto investors, and we can help you navigate the complexities of the tax system. Our team of experts can provide personalized guidance and strategies to help you optimize your tax position. Contact us today to learn more about how we can assist you in minimizing your crypto tax liability in Puerto Rico.
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