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The law countermands Law No. 139 of 14 June 1980 and Law No. 145 of 18 June 1980. It regulates the exercise of the profession of real estate broker in Puerto Rico and creates the Examining Board of Realtors. It also regulates transactions on the island by companies engaged in the sale of real estate located outside of Puerto Rico.
Many of the Laws of Puerto Rico (Leyes de Puerto Rico) are modeled after the Spanish Civil Code, which is part of the Law of Spain. [2]After the U.S. government assumed control of Puerto Rico in 1901, it initiated legal reforms resulting in the adoption of codes of criminal law, criminal procedure, and civil procedure modeled after those then in effect in California.
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.
Puerto Rico's Act 60 is driving its luxury real estate boom. This tax incentive program offers U.S. mainlanders who relocate a 15-year tax break, including a 4% fixed income tax rate and up to a ...
The Puerto Rico Department of Housing (Spanish: Departamento de Vivienda de Puerto Rico) is the department responsible for homeownership, affordable housing, and community assistance programs in Puerto Rico. It was created in 1972. [1]
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 ...
As a result of the 1949 law, agencies in Puerto Rico sent plans for the construction of caseríos (housing) to Washington, DC for approval and by August 1952, the building of 9,890 new units across Puerto Rico had been authorized. [7] Law 93-383 passed by the US Congress on August 22, 1974 for the improvement of residences, included Puerto Rico ...
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