What are the tax implications for cryptocurrency traders in Puerto Rico?

1 answers

• Dec 27, 2021 · 3 years ago
  As a cryptocurrency trader in Puerto Rico, you may be eligible for certain tax benefits. Puerto Rico offers Act 22, also known as the Individual Investors Act, which allows eligible individuals to pay zero capital gains tax on their investment income. This means that if you qualify for Act 22, you can potentially save a significant amount of money on your cryptocurrency trading profits. However, it's important to note that Act 22 has specific requirements and you should consult with a tax professional to determine if you are eligible and how to take advantage of this tax benefit.
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