Sitting by the Dock of the Act 22 Bay
Tax Breaks Probed by Local and Federal Authorities

The debate over the effectiveness of the tax exemption decrees granted to investors interested in doing business in Puerto Rico continues in the Legislative Assembly after public hearings were held earlier this month on Senate Bill 684, which seeks to amend the Puerto Rico Incentives Code, specifically the provisions that have to do with the Act to Promote the Relocation of Investors to Puerto Rico, previously known as Act 22 of 2012 and which was incorporated into the incentives code.
SB684, which was authored by the Popular Democratic Party senator and former secretary of the Treasury, Juan Zaragoza, and New Progressive Party Senator and former Senate President Thomas Rivera Schatz, stipulates in its language that current law has allowed the improvement of certain economic activities in Puerto Rico and “it is necessary to make amendments that promote a better balance between attracting individual investors to the island, direct job creation, capital investment, and treasury revenues that can be reinvested in a better quality of life for all Puerto Ricans.”
To read the entire story subscribe now to our epaper at caribbeanbusiness. com
Latest News
-
Jagged Fiscal Peaks
For all its beauty, pristine beaches, forests and centuries-old architecture,...
- Posted July 1, 2022
-
The Big Differences Between Nixon and Trump
As the country and the world witnessed on TV the...
- Posted July 1, 2022
-
Prasa Announces Major Projects
Water Service Expected to Improve Amid Extreme Drought Periods Despite...
- Posted July 1, 2022
-
FOMB to Impose Own Budget
Legislative Leaders Quarrel Over Failure to Meet Deadline Puerto Rico’s...
- Posted July 1, 2022
-
T-Mobile Leads in Network Experience Report
Ranks No. 1 in 5G Performance Categories Wireless communications provider...
- Posted June 30, 2022
-
Senate to Investigate CRIM Operations
Judiciary Committee Files Resolution to Begin Probe Amid the harsh...
- Posted June 30, 2022
-
El Patio de la Cerra: New Hangout for Beer Lovers In Santurce
Pets Welcomed Santurce has a new beer spot and it...
- Posted June 30, 2022
-
Medplus Solutions celebrates 10 years Saving Lives
Innovation and continuous growth Expansion of specialized and more...
- May 18, 2022
-
Amazon Web Services Expands Operations in Puerto Rico
Local Office Will Offer Services to other Caribbean Islands...
- April 22, 2022
-
García Padilla: Rubio Is No Friend of Puerto Rico
Governor Says Rubio's Remarks Confirm he Works for 'Vultures'
- February 26, 2016
- 15
You must be logged in to post a comment Login