NEWS

Consider all Factors to Take Advantage of Acts 20/22’s Amazing Incentives

March 21, 2017 • Caribbean Business

As one of the first recipients to move to Puerto Rico in 2013 and the founder of The 20/22 Act Society, I have witnessed firsthand the growth of the amazing incentives under Acts 20 & 22 of 2012. We are constantly telling potential recipients that they need to consider multiple factors in making their move, such as lifestyle, culture, cost of living, and not only the incentives under the program. As part of this role, we always try to emphasize that properly complying with the sourcing rules lands much stronger on the Internal Revenue Service (IRS) side than on the Treasury Department (Hacienda) side, although I think it is a valid point to say you now serve two masters rather than having escaped one.

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