A unique tax incentive program awaits foreign businesses interested in setting up operations in Puerto Rico. New tax laws were recently established to help Puerto Rico compete in the global marketplace and these tax breaks have opened a huge door of opportunity for foreign investors and entrepreneurs.
In July of 2017, the local government enacted a special economic program designed to attract foreign businesses operating in a variety of industries with a focus on emerging technologies. This legislation was developed to promote the export of services from the island, encourage relocation of wealthy investors, and stimulate the economy through manufacturing, internet-based businesses, and commercial businesses. The new rules boast a 4% corporate tax rate for businesses setting up a company on Puerto Rican soil and the business would not be subject to typical U.S. taxes demanded by the IRS. This means higher profits for businesses and increased wealth for savvy business owners.
The international tax advisors at Delerme CPA can guide you on how your business can save significant money on taxes by setting up operations in Puerto Rico. Find out how your business can benefit from the new tax laws in Puerto Rico. Call us now at 404-445-8095 or request a consultation online.