Puerto rico crypto tax loophole

puerto rico crypto tax loophole

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Can You Really Pay Less Taxes in Puerto Rico? ( tax strategy explained)
Long-term capital gains are owed on any crypto that has been held for over a year or more. Long-term capital gains are taxed at a rate of anywhere up to 20% and. Puerto Rico was a tax-haven option in with Act 60, a new tax incentive program to lure wealthy people and remote businesses from the US. Puerto Rican residents are subject to a 0% tax on cryptocurrency. This includes profits from cryptocurrency disposals as well as income from staking and mining.
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Any income that is considered sourced in the United States or otherwise outside of Puerto Rico, would still be considered taxable by the United States � and there is no telling whether Act 60 will remain in its current state. This includes profits from cryptocurrency disposals as well as income from staking and mining for individuals. However, good tax planners use a variety of strategies each year to save money.