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The economy of Puerto Rico is classified as a high-income economy by the World Bank and as the most competitive economy in Latin America by the World Economic Forum. [14] [15] The main drivers of Puerto Rico's economy are manufacturing, which primarily includes pharmaceuticals, textiles, petrochemicals, and electronics; followed by the service industry, notably finance, insurance, real estate ...
Taxation in Puerto Rico consists of taxes paid to the United States federal government and taxes paid to the Government of the Commonwealth of Puerto Rico.Payment of taxes to the federal government, both personal and corporate, is done through the federal Internal Revenue Service (IRS), while payment of taxes to the Commonwealth government is done through the Puerto Rico Department of Treasury ...
This is a list of Puerto Rico locations by per capita income. In 2017, Puerto Rico had a per capita income of $12,081 — lower than any state and one of the lowest in the United States. [1] In 2017, Puerto Rico had a median household income of $19,775 — the lowest of any state or territory in the United States. [1]
According to updated economic forecasts from the Fed's Summary of Economic Projections (SEP), the central bank sees core inflation hitting 2.5% next year, higher than its previous projection of 2. ...
WASHINGTON (Reuters) - U.S. private payrolls increased at a moderate pace in November, while annual wages for workers staying in their jobs edged up for the first time in 25 months.
The Puerto Rico Office for Socioeconomic and Community Development (Spanish: Oficina para el Desarrollo Socioeconómico y Comunitario de Puerto Rico (ODSEC)) is a government agency of Puerto Rico that manages projects to improve and develop "Special Communities of Puerto Rico", (Spanish: Comunidades Especiales de Puerto Rico).
Act 22 of 2012 —also known as the Act to Promote the Relocation of Investors to Puerto Rico (Spanish: Ley para Incentivar el Traslado de Inversionistas a Puerto Rico)— is an act enacted by the 16th Legislative Assembly of Puerto Rico that exempts local taxes on certain passive income generated by individuals that reside in Puerto Rico.
For practical reasons the budget is divided into two aspects: a "general budget" which comprises the assignments funded exclusively by the Department of Treasury of Puerto Rico, and the "consolidated budget" which comprises the assignments funded by the general budget, by Puerto Rico's government-owned corporations, by revenue expected from loans, by the sale of government bonds, by subsidies ...