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by seanmcdirmid 3039 days ago
> (But, in exchange via act 20+22: zero capital gains (LT/ST), zero tax on dividends, and consulting/services/export revenue are taxed at 0-4% -- all guaranteed through at least 2035. Seems to be becoming quite the hub for traders and cryptocurrency people, plus some saas/consultancy types, which becomes interesting to me for network effect reasons.)

And in exchange for that, Puerto Rico is broke. But that is not a topic for here and now :)
1 comments
rdl 3039 days ago
I think it's in the other direction of causality "Puerto Rico was broke, so they passed all these incentives in 2006 and enhanced them in 2017".

But it does create a lot of perverse incentives; it's a better deal for me to move to PR and do stuff than for a PR-born kid to go to HS on-island, college in the US, and then return to PR to run a business. There is almost an argument for constitutionality/equal protection.

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