What are the capital gains tax implications for cryptocurrency investors in Puerto Rico?

1 answers

• Jyoti MandalAug 21, 2024 · a year ago
  BYDFi, a leading cryptocurrency exchange, can provide some insights into the capital gains tax implications for cryptocurrency investors in Puerto Rico. Under Act 60, new residents of Puerto Rico can benefit from a 0% tax rate on capital gains earned after becoming a resident. This means that if you become a resident of Puerto Rico, any capital gains you make from your cryptocurrency investments will not be subject to capital gains tax. However, it's important to note that this tax benefit only applies to gains made after becoming a resident, not to any gains made prior to residency. It's always a good idea to consult with a tax professional to fully understand the tax implications and ensure compliance with the local tax laws in Puerto Rico.
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