Deadline for Puerto Rico Acts 20/22 tax exemption applications is Nov. 15
SAN JUAN – Nov. 15 is the deadline for entities and individuals to file the online application for tax exemptions under Act 20 (Act to Encourage the Export of Services) and Act 22 (Act to Promote the Relocation of Individual Investors to Puerto Rico), Economic Development Secretary Manuel Laboy announced Friday.
Laboy, who is also executive director of the Puerto Rico Industrial Development Co., added in Friday’s release that entities and individuals can apply for tax exemptions under different laws at the Single Business Portal (SBP_ found at www.businessinpuertorico.com/sbp.
Javier Bayón Torres, director of the agency’s Office of Industrial Tax Exemption (OECI by its Spanish initials), explained in a statement that “a request is considered filed when all documents and information have been submitted in the OECI along with the filing. Requests for the laws begun on the previous platform, but not filed on or before November 15, 2018, will have to be processed through the SBP.”
“We urge all interested parties to complete the applications with all the required information on or before November 15 so they can be evaluated as soon as possible. Our interest is that more and more entities and individuals can benefit from these laws that encourage the investment and export of goods and services from local and international entrepreneurs, to create jobs and contribute to the development of the Puerto Rican economy,” Laboy said.
For more information, call the OECI at 787-764-6363.