Puerto Rico Tax Incentives for Startups and Freelancers

Do they really believe that our memories are that short? One of the main reasons for the most recent financial crisis in PR was due to section 936 of the US Tax code.<p>Take a read of the most recent crisis: <a href="https:&#x2F;&#x2F;taxfoundation.org&#x2F;tax-policy-helped-create-puerto-rico-s-fiscal-crisis&#x2F;" rel="nofollow">https:&#x2F;&#x2F;taxfoundation.org&#x2F;tax-policy-helped-create-puerto-ri...</a><p>United States General Accounting Office Report to the Chairman, Committee on Finance, TAX POLICY Puerto Rico and the Section 936 Tax Credit <a href="http:&#x2F;&#x2F;www.gao.gov&#x2F;assets&#x2F;220&#x2F;218131.pdf" rel="nofollow">http:&#x2F;&#x2F;www.gao.gov&#x2F;assets&#x2F;220&#x2F;218131.pdf</a>

Wonderful to see people reinventing taxation from the first principles: &quot;awesome country to live in, with great education and social security, but these are expensive countries, from a Tax perspective&quot;

Do tax incentives really work over the long term? Some quick searching via Google seem to bring up some negative answers but my search term could be biased (&quot;do tax incentives really work?&quot;) and only lead me to answers that backup my question. I&#x27;m just curious to know if Tax Incentives actually do work for any city or state. Weren&#x27;t tax breaks (or the removal of) part of the problem that got P.R. into their current situation?

Act 20 applies to any company&#x2F;freelancer that exports services from PR,the condition to have lived outside of the island doesn&#x27;t apply here. And the government just changed the job requirement, so you don&#x27;t have to hire 5 people anymore, making it available to companies with fewer employees and freelancers.

My only gripe when they originally enacted act 20 and 22. Was that it required the founder not to have lived in Puerto Rico in the past 15 years or long period of time before arriving here.<p>Unless they changed it this would forbid founders that are trying to make a company in Puerto Rico able to qualify.

When I see such a poorly formatted&#x2F;edited article, it makes me question the integrity and quality of the thinker behind it. I know it&#x27;s vain and maybe superficial, but if they can&#x27;t be bothered to consistently format or proofread their work, then I wonder what else they couldn&#x27;t be bothered to do.