#tax-breaks

#tax-breaks

Your neighbor's refusal to provide the affidavit may stem from a personal principle, rather than a judgment about your character or integrity.

Since 2019, Puerto Rico has witnessed an influx of mainlanders, particularly wealthy ones, drawn to its shores by tax breaks. Mainlanders who take up residency in Puerto Rico receive a 15-year tax break under Act 60, meaning they only pay a 4% fixed rate on income and enjoy a reduction in property taxes of up to 75%. This has angered some locals who don't qualify for the tax break.