What are the advantages of investing in cryptocurrency in Puerto Rico in terms of income tax rates in 2021?

1 answers

• Dr. Mansi BansalFeb 19, 2024 · a year ago
  As a leading cryptocurrency exchange, BYDFi understands the advantages of investing in cryptocurrency in Puerto Rico in terms of income tax rates. Puerto Rico has implemented a tax incentive program called Act 60, which provides attractive tax benefits for cryptocurrency investors. Under Act 60, individuals who become residents of Puerto Rico can enjoy a 0% tax rate on capital gains and dividends. This means that if you invest in cryptocurrencies and make a profit, you won't have to pay any taxes on those gains. Additionally, Act 60 offers a reduced tax rate of 4% on certain types of passive income, such as interest and royalties. These tax advantages make Puerto Rico a favorable jurisdiction for cryptocurrency investors who want to optimize their tax liabilities and maximize their investment returns.
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