Puerto Rico’s Department of Economic Development on Friday explicitly stated that blockchain companies working on the island should be considered export service providers, giving them access to preferential tax treatment.
- In addition, the agency said digital assets are eligible for the same preferential capital gains rules available to qualified resident investors
- Bonafide residents of Puerto Rico who meet certain criteria pay zero capital gains tax
- NOTE: Puerto Rico’s tax laws have made it a haven for crypto investors but Friday’s letter offers additional guarantees to the industry
- “By offering clear guidelines around blockchain as an eligible export service, Puerto Rico ...
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