Puerto Rico Department of Economic and Commercial Development ( DDEC), has released a document that includes tax exemptions that blockchain projects can take advantage of.
Commenting on the subject DDECsecretary Luis CidreAccording to , this move aims to create an environment of certainty and stability for blockchain companies.
Puerto Rico Plans to Become a Blockchain Hub
Porto Rico, USAwho want to operate in the island territory moved to attract blockchain companies.
Puerto Rico Department of Economic and Commercial DevelopmentThe document shared by I contains the conditions that blockchain-based companies must meet to benefit from tax exemptions through the Puerto Rico exemptions law, also known as Law No. 60.
DDECsecretary Manual Cidrewith this move Puerto Rico’sHe said they aim to be among the most sought after destinations for blockchain companies.
In the shared document, blockchainThere are other important definitions for national companies trying to export their services related to
DDECBusiness Incentives Office Director Carlos FontanIn a statement regarding the development, he stated that Puerto Rico is at the forefront of the industry worldwide by providing a precise and accurate legal framework in the industry.
Porto Rico, in February 2022 as part of the regulations Sales and Usage Tax enacted a law. They defined NFTs as taxable assets within the scope of this law and underlined that NFT trading transactions should be reported.
