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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

State or TerritoryPuerto Rico
Effected JurisdictionPuerto Rico
Jurisdiction type: State or Territory
Fiscal year ending In2022
Program nameAct 22 - 2012 Transfers of Investors to Puerto Rico
Program purpose: Investor Relocation Incentives
Statutory authority: Act 22 - 2012
Abating jurisdiction(s): Territory of Puerto Rico
Applicable taxesCorporate Tax
Method of abatement: Tax Reduction
Provisions for recapture: None
Gross revenue loss: $600,600,000
Reimbursement / offset: $0
Net revenue loss: $600,600,000
Type of loss: Active
Additional notes on dislosureTo attract new residents to Puerto Rico by providing a total exemption from Puerto Rico income taxes on all passive income realized or accrued after such individuals become bona fide residents of Puerto Rico
Document sourcehttps://emma.msrb.org/P21797106-P21379346-P21818960.pdf