The Miracle Of Puerto Rico

Quote:

How Puerto Rico Became The Newest Tax Haven For The Super Rich by Jesse Barron In 2012, Puerto Rico had passed two laws intended to make the island a “global investment destination.” Act 20 allows corporations that export services from the island to pay only 4 percent tax. Act 22 goes much further: It makes Puerto Rico the only place on U.S. soil where personal income from capital gains, interest, and dividends are untaxed. In order to qualify for Act 22, individuals must prove to the IRS that they have become bona fide residents of Puerto Rico, without “close contacts” on the mainland. (Most native Puerto Ricans are not eligible for the exemption.)

Well, I obviously don't qualify. But I do wonder what it'd be like to live there.

via International Skeptics Forum https://ift.tt/2Ob8eGS