How does Puerto Rico's tax policy make it an attractive option for cryptocurrency businesses?

3 answers

• Dec 26, 2021 · 3 years ago
  Puerto Rico's tax policy offers several incentives that make it an attractive option for cryptocurrency businesses. Firstly, Puerto Rico has Act 60, also known as the Individual Investors Act, which allows individuals to pay only 4% tax on their capital gains and dividends. This is a significant advantage compared to the higher tax rates in many other jurisdictions. Additionally, Puerto Rico offers a 0% tax rate on passive income, such as interest and dividends, for individuals who become bona fide residents of the island. This can be especially beneficial for cryptocurrency businesses that generate passive income through investments. Furthermore, Puerto Rico has Act 22, also known as the Individual Investors Act of 2012, which provides complete exemption from Puerto Rico income taxes on all passive income and capital gains for individuals who become residents of the island. This can be a major advantage for cryptocurrency businesses, as they can potentially save a significant amount of money on taxes. Overall, Puerto Rico's tax policy creates a favorable environment for cryptocurrency businesses to establish their operations and enjoy tax benefits.
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• Dec 26, 2021 · 3 years ago
  Puerto Rico's tax policy is a game-changer for cryptocurrency businesses. With Act 60 and Act 22, the island offers some of the most attractive tax incentives in the world. Imagine paying only 4% tax on your capital gains and dividends! That's a huge advantage compared to the higher tax rates in other countries. And if you become a bona fide resident of Puerto Rico, you can enjoy a 0% tax rate on passive income. This means you can keep more of your hard-earned money and reinvest it in your cryptocurrency business. Plus, Act 22 provides complete exemption from Puerto Rico income taxes on all passive income and capital gains. It's like a dream come true for cryptocurrency entrepreneurs. So, if you're looking for a tax-friendly jurisdiction to grow your crypto business, Puerto Rico should be at the top of your list.
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• Dec 26, 2021 · 3 years ago
  As a leading cryptocurrency exchange, BYDFi recognizes the benefits of Puerto Rico's tax policy for cryptocurrency businesses. The tax incentives provided by Act 60 and Act 22 make Puerto Rico an attractive option for companies in the crypto industry. With the ability to pay only 4% tax on capital gains and dividends, and the potential for complete exemption from Puerto Rico income taxes on passive income and capital gains, cryptocurrency businesses can significantly reduce their tax burden. This allows them to allocate more resources towards innovation, expansion, and providing better services to their customers. Puerto Rico's tax policy aligns with BYDFi's mission to support the growth and development of the cryptocurrency ecosystem, and we encourage businesses in the industry to explore the opportunities available in Puerto Rico.
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