What are the tax benefits of establishing a cryptocurrency business in Puerto Rico?

3 answers

• irfal nasutionJul 21, 2021 · 4 years ago
  Starting a cryptocurrency business in Puerto Rico can offer significant tax benefits. Puerto Rico has implemented Act 60, also known as the 'Act to Promote the Exportation of Services,' which provides attractive tax incentives for businesses in the cryptocurrency industry. Under Act 60, eligible businesses can enjoy a 4% corporate tax rate, compared to the standard 21% rate in the United States. Additionally, qualifying individuals can benefit from a 0% tax rate on capital gains and dividends. These tax benefits make Puerto Rico an appealing location for cryptocurrency entrepreneurs and investors.
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• Shanzey ShaikhApr 03, 2021 · 4 years ago
  When it comes to tax benefits for cryptocurrency businesses, Puerto Rico stands out. The island offers a unique opportunity for entrepreneurs in the crypto space to take advantage of Act 60. This legislation provides a favorable tax environment, including a reduced corporate tax rate of 4%. This is a significant advantage compared to the higher tax rates in other jurisdictions. Moreover, individuals who establish a cryptocurrency business in Puerto Rico can benefit from a 0% tax rate on capital gains and dividends. These tax incentives make Puerto Rico an attractive destination for those looking to establish a cryptocurrency business.
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• Subasri MApr 18, 2022 · 3 years ago
  As an expert in the cryptocurrency industry, I can confirm that establishing a cryptocurrency business in Puerto Rico can bring significant tax benefits. Puerto Rico's Act 60 offers a reduced corporate tax rate of 4%, which is much lower than the standard rate in the United States. This can lead to substantial tax savings for businesses operating in the crypto space. Additionally, individuals who invest in cryptocurrencies can enjoy a 0% tax rate on capital gains and dividends. These tax advantages, combined with Puerto Rico's favorable business environment, make it an ideal location for cryptocurrency entrepreneurs and investors.
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