The Puerto Rico tax incentives offers tax benefits for certain US citizens who relocate to Puerto Rico. This is a scheme that was initiated in order to ensure the island becomes competitive in attracting investors and offer opportunities for companies from across the globe. The island is now courting millionaires and billionaires by offering benefits for wealthy individuals and US corporations.
One sector that is being targeted is manufacturing and other strategic areas are also targeted. Local government in the island started the scheme for the purposes of assisting operations in this island to become even more profitable if you are a manufacturing firm. Various Acts were introduced to make sure this is a viable program.
The environment that has been provided is adequate and more opportunities are being offered. Companies that are committed to state of the art technologies are some of the companies being targeted. If you invest in research, you can also make full use of the benefits being provided. Academic sectors are also being targeted for them.
For a manufacturing company, four percent is the amount of taxes that this island will charge you. If you invest in machinery and equipment, including structures, there are special deductions that you can be given. If the sales of a manufacturing business top 100,000 dollars per year, marketing incentive will be provided.
Export services businesses are charged just four percent in from of taxes and this can even come down to three percent. A hundred percent exemption is offered for profit distributions and dividend. There will be no property taxes for particular export services companies. A decree of twenty years which is renewable for ten more years guaranteeing such rates has also been made.
For individual investors, these people cannot be asked to pay taxes for the passive income earned after investors become residents. For someone to qualify to get this incentive, one should have become a resident of this island between 1997 and 2012. The incentive is wonderful and you will not pay taxes for your interests and dividend incomes.
For the agricultural sector, farmers will not pay any taxes when they buy agricultural equipment. There will be no property taxes for land buildings and motor vehicles among others. There is also a hundred percent exemption on the municipal taxes. Stamp payments to the treasury department of the island will also be waived.
For earnings that a farmer has earned from their agricultural activities, the island will ensure that 90 percent of such earnings have not been taxed. For agricultural business that is eligible, fifty per cent credit is given for investment. Workers in agricultural sector also get annual bonuses while wage subsidies are given to eligible farmers.
You can find a whole movie in this island due to its great location. There is equipment that is also available for filming. This is the reason why the island saw it fir to provide Puerto Rico tax incentives for the filming industry. More information is available via the internet.
One sector that is being targeted is manufacturing and other strategic areas are also targeted. Local government in the island started the scheme for the purposes of assisting operations in this island to become even more profitable if you are a manufacturing firm. Various Acts were introduced to make sure this is a viable program.
The environment that has been provided is adequate and more opportunities are being offered. Companies that are committed to state of the art technologies are some of the companies being targeted. If you invest in research, you can also make full use of the benefits being provided. Academic sectors are also being targeted for them.
For a manufacturing company, four percent is the amount of taxes that this island will charge you. If you invest in machinery and equipment, including structures, there are special deductions that you can be given. If the sales of a manufacturing business top 100,000 dollars per year, marketing incentive will be provided.
Export services businesses are charged just four percent in from of taxes and this can even come down to three percent. A hundred percent exemption is offered for profit distributions and dividend. There will be no property taxes for particular export services companies. A decree of twenty years which is renewable for ten more years guaranteeing such rates has also been made.
For individual investors, these people cannot be asked to pay taxes for the passive income earned after investors become residents. For someone to qualify to get this incentive, one should have become a resident of this island between 1997 and 2012. The incentive is wonderful and you will not pay taxes for your interests and dividend incomes.
For the agricultural sector, farmers will not pay any taxes when they buy agricultural equipment. There will be no property taxes for land buildings and motor vehicles among others. There is also a hundred percent exemption on the municipal taxes. Stamp payments to the treasury department of the island will also be waived.
For earnings that a farmer has earned from their agricultural activities, the island will ensure that 90 percent of such earnings have not been taxed. For agricultural business that is eligible, fifty per cent credit is given for investment. Workers in agricultural sector also get annual bonuses while wage subsidies are given to eligible farmers.
You can find a whole movie in this island due to its great location. There is equipment that is also available for filming. This is the reason why the island saw it fir to provide Puerto Rico tax incentives for the filming industry. More information is available via the internet.
About the Author:
This worthwhile website www.movetopr.com has the newest information on Puerto Rico tax incentives that people want to know about. Just use the following link to reach the site at http://www.movetopr.com.
No comments:
Post a Comment