For those whom might not be aware of the tax evasion structure that exist in Puerto Rico. Essentially its a Tax Haven within US jurisdiction since Puerto Rico is a common-wealth.
This allows for the local government to benefit from pay to play kickback system that favors non-residents. While Puerto Ricans residents are taxed their life savings stiffening their buying power & having to work multiple minimum wage jobs to be able to put food on their table. The corruption on the island is astonishing. The people of PR are great people . Its just unfortunate they have such a horrible government structure. Corruption at all levels.
For those whom might not be aware of the tax evasion structure that exist in Puerto Rico. Essentially its a Tax Haven within US jurisdiction since Puerto Rico is a common-wealth.
Link: Tax incentives for external investors in PR
Link: Nine Tax Facts about Puerto Rico Act 60 Requirements
This allows for the local government to benefit from pay to play kickback system that favors non-residents. While Puerto Ricans residents are taxed their life savings stiffening their buying power & having to work multiple minimum wage jobs to be able to put food on their table. The corruption on the island is astonishing. The people of PR are great people . Its just unfortunate they have such a horrible government structure. Corruption at all levels.
I'm heading there next month. Loved it the first time around.
Puerto Ricans > Newyoricans
Definitely! Two different breeds. Islanders are the real deal.