Puerto Rico Tax Incentives Scrutinized

Puerto Ricos tax incentives, designed to boost economy, face scrutiny over potential costing hundreds of millions annually. New report urges IRS to improve oversight, warns of possible tax evasion. Over 9,000 resident investor decrees and export service business decrees granted since 2012. Concerns raised about unfair tax haven for ultra-wealthy, lack of resources for IRS to ensure compliance. IRS investigation into tax evasion slow, due to complexity and communication gaps. Puerto Ricos economy shows little growth since incentives began, but major disasters and pandemic impact assessment.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.