Objectives and Principles of the Puerto Rico Tax Incentives Code – Act 60-2019

Tax Incentive Code Objectives

  • This new tax incentive consolidates, considers, and extend in a single tax code most of Puerto Rico’s previous tax incentives available.
  • It redesigns the incentives structure in order for those to be in accordance with Puerto Rico’s needs.
  • Provides guidance and respective tools for the government to measure performance and validate incentives effectiveness
  • Develops and promotes Puerto Rico’s economy by creating a single development tool
  • Update Puerto Rico most common and most successful tax incentives including emerging industries

Tax Incentives Code Principles

  • To measure and facilitate the Return of Investment (ROI) analysis
  • Avoid duplicity of incentives or rules
  • Promote reciprocity with other jurisdictions
  • Transparency among decrees
  • Facilitate the process of evaluation of new incentives by considering the Secretary of Economic Department and related agencies

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