Puerto Rico Tax Incentive Conference to be Held in New York
SAN JUAN – New York’s Park Hyatt is slated to host on June 29 The Puerto Rico Tax Incentive Conference, an event focused on the island’s tax incentives and competitive advantages.
After several summits held on the island during the past three years, this new event moves to New York. Hosting U.S. investors and entrepreneurs, the event will bring experts to explain firsthand the variety of competitive advantages Puerto Rico offers as an investment opportunity.
The conference, a private event hosted by BDO, PMA Law and the PRISA Group, will cover the investment incentives the island offers, “which are unmatched in any state of the nation,” according to the published announcement, as well as other incentives in specific areas, including insurance, film and manufacturing. The event will focus on the benefits that Acts 20 and 22 provide including a 4% corporate incentive for businesses in Puerto Rico exporting services and 100% tax exemption on capital gains from eligible services, respectively.
To date, 1,600 Act 20/22 decrees have been awarded. Real estate investor John Paulson has taken advantage of these incentive laws, acquiring a resort, two hotels and multiple ocean-front properties.
Gabriel Hernández, CEO of BDO Consulting and Edgar Ríos, Tax Partner at PMA Law – both local experts in tax structures and law – will share information on Acts 20/22, tax incentives for individuals and exports services, and new private equity laws, among others. Joining them Friedel Stubbe, CEO of PRISA Group, who will discuss the experiences of living in Puerto Rico and the competitive advantages that may benefit entrepreneurs.
The release adds that due to its accessibility, infrastructure, federal compliance and established regulations to protect business investors, Puerto Rico is even more competitive than Miami or Singapore, making it an ideal jurisdiction for investors.