Is Puerto Rico a tax-friendly jurisdiction for cryptocurrency businesses?

3 answers

• Dec 25, 2021 · 3 years ago
  Yes, Puerto Rico is known for its tax incentives for businesses, including those in the cryptocurrency industry. The government of Puerto Rico has implemented Act 60, also known as the Export Services Act, which provides significant tax benefits for eligible businesses. This includes a 4% corporate tax rate for export services, such as cryptocurrency trading. Additionally, Act 22, also known as the Individual Investors Act, offers tax exemptions on capital gains and dividends for individuals who become residents of Puerto Rico. These tax incentives make Puerto Rico an attractive jurisdiction for cryptocurrency businesses.
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• Dec 25, 2021 · 3 years ago
  Absolutely! Puerto Rico has become a popular destination for cryptocurrency businesses due to its favorable tax environment. The government has implemented various tax incentives to attract businesses, including a low corporate tax rate and tax exemptions for certain types of income. This makes Puerto Rico an ideal location for cryptocurrency entrepreneurs looking to minimize their tax liabilities and maximize their profits.
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• Dec 25, 2021 · 3 years ago
  As a representative of BYDFi, I can confirm that Puerto Rico is indeed a tax-friendly jurisdiction for cryptocurrency businesses. The government has implemented favorable tax laws and incentives to attract businesses in the cryptocurrency industry. This includes a low corporate tax rate and tax exemptions for certain types of income. These measures have made Puerto Rico a preferred destination for cryptocurrency entrepreneurs who want to optimize their tax strategies and grow their businesses.
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