Since we’re considering moving to Puerto Rico, I’ve had lots of questions about taxes. The island is a U.S. territory, after all, and I have been wondering if there are tax advantages to moving there.
The short answer is – YES!
I have spent the last couple of weeks researching individual and business taxes in Puerto Rico and was very glad to learn that it has some great tax breaks, even for the average person.
Yes, it is true that Puerto Rico’s tax system is based on the U.S. tax code, but it is different enough to be noted as an advantage to moving there. I’m not an expert on taxes but I can certainly appreciate the savings I can achieve by relocating to the island. Continue reading