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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.
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 ...
Puerto Rico (United States), almost a corporate tax haven "concession" by the U.S., [131] but which the Tax Cuts and Jobs Act of 2017 mostly removed. [132] Major sovereign States that feature on financial secrecy lists (e.g. the Financial Secrecy Index), but not on corporate tax haven or traditional tax haven lists, are:
A Transnational Migrant Crossroads: The Circulation of People and Money in Puerto Rico Los/las trabajadores/as pobres en Puerto Rico: La situación y las posibles soluciones Fiscal Situation Update: May 2007 Endeudando al de aquí: Los préstamos por depósito diferido en Puerto Rico Municipal Fiscal Crisis in the United States: Lessons and ...
Without action before April, Puerto Rico's ability to execute contracts for Fiscal Year 2018 with its managed care organizations will be threatened, thereby putting at risk beginning July 1, 2017 the health care of up to 900,000 poor U.S. citizens living in Puerto Rico," according to a letter sent to Congress by the Secretary of the Treasury ...
Because of this, Puerto Rico is subject to the plenary powers of Congress. Nonetheless, Puerto Rico has established relations with foreign nations, particularly with Hispanic American countries such as Colombia and Panama. [1] [2] The establishment of such relations, however, requires permission from the U.S. Department of State or Congress itself.
2012 Budget of the Government of Puerto Rico. The Budget of the Government of Puerto Rico (Spanish: Presupuesto del Gobierno de Puerto Rico) is the proposal by the Governor of Puerto Rico to the Legislative Assembly which recommends funding levels for the next fiscal year, beginning on July 1 and ending on June 30 of the following year.
Puerto Rico's governor, who is the head of government, and the members of the legislature are elected every four years by popular vote. Puerto Rico's legislature is a bicameral body consisting of a Senate and a House. The members of the judicial branch are appointed by the Governor with the approval of the Senate to serve until they reach age 70.