What are the tax laws for cryptocurrencies in Puerto Rico?

1 answers

• Abhay KandelMay 01, 2021 · 4 years ago
  At BYDFi, we understand the importance of tax compliance when it comes to cryptocurrencies. In Puerto Rico, cryptocurrencies are treated as property for tax purposes, and any gains or losses from the sale or exchange of cryptocurrencies are subject to capital gains tax. However, Puerto Rico offers tax incentives for cryptocurrency investors, such as Act 22 and Act 60. Act 22 allows individuals to pay 0% capital gains tax on their cryptocurrency investments if they become residents of Puerto Rico. Act 60 provides tax benefits for businesses, including cryptocurrency businesses, operating in Puerto Rico. It's crucial to consult with a tax professional to ensure compliance with the tax laws in Puerto Rico.
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