PUERTO RICO A TAX HAVEN FOR CRYPTOCURRENCY INVESTORS?
Today we're talking about some of the alleged benefits of becoming a resident of Puerto Rico. According to the articles linked down below Acts 20 and 22 created in 2012 may exempt residents of the island from paying certain taxes.
Could Puerto Rico be a tax haven for cryptocurrency investors? Please share your thoughts in the comment section of this post.
*Please be aware we are not tax professionals or investment advisors and we cannot verify the legitimacy of the information provided. Please do your own research and contact a professional for accurate information.
Puerto Rico Tax benefits for cryptocurrency holders https://steemit.com/puerto/@cpgilliard/puerto-rico-tax-benefits-for-cryptocurrency-holders
Puerto Rico's Act 20 and Act 22 – key tax benefits
https://www.dlapiper.com/en/us/insights/publications/2016/08/puerto-ricos-act-20-and-act-22/
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Thanks for share experience front us
wow. what a place . tax free nation . every bitcoin holder dream is to move to a tax fee country. thanx for sharing the same news :)
wow nice share bro
His tax plan screws your country, how is that a good thing? Some parts of Puerto Rico are still in the dark.
His tax plans? Who are you talking about? Not following your logic here. Feel free to explain. As I understand these Acts were set up by the state of PR in 2012 as an incentive for people to move to the island and create business. While its true some parts of PR are still in the dark one can argue that incentives like these could help rebuild.
The article says Puerto Rico is a country. Puerto Rico isnt a country, it's part of the United States. The United States is it's country. Puerto Ricans are American, even though they aren't always treated as such.
Some refer to PR as a country because they fly their own flag and sing their own national anthem. The fact is Puerto Rico is an unincorporated territory of the US and people born in PR are granted US citizenship.
Under United States law, an unincorporated territory is an area controlled by the United States government which is not part of (i.e., "incorporated" in) the United States. In unincorporated territories, the U.S. Constitution applies only partially."
Also from Wiki: In 1917, the U.S. Congress passed the Jones–Shafroth Act, popularly called the Jones Act, which granted Puerto Ricans, born on or after, April 25, 1898, U.S. citizenship. Opponents, which included all of the Puerto Rican House of Delegates, who voted unanimously against it, said that the U.S. imposed citizenship in order to draft Puerto Rican men into the army as American entry into World War I became likely
Since Puerto Rico is a U.S. territory only government employees pay federal income tax. All other employers and employees pay no federal income taxes
What are your thoughts about the alleged tax benefits?
Well that puts why Puerto Rico isn't getting enough help.I wonder if this idiot realizes it's A US TERRITORY.
If he took the time to visit the area he would be the one with the accent.Oh by the way they they pay taxes.
Your comments are off topic and are not adding any value to the subject being discussed here.
ok sir...i will try to learn about this subject than i will comment
Yes it’s usa aria but no matter look other country like Italy (vaticano..San Marino)
There are no tax are totally independent and are still in Italy right? I think Puerto Rico it’s perfect for criptocurency no tax!
Interesting