Welcome to Impulse Boricua, your reliable source of information on Laws 20/22, now Law 60 and its impact on Puerto Rico. We are dedicated to promoting a clear understanding of these laws and their contribution to the economic development of our island.
RE-INVESTMENT
ECONOMICAL
DEVELOPMENT
INJECTION OF
CAPITAL
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In 2022, Laws 20/22, now Law 60, have generated over $240 million annually in revenues for Puerto Rico.
On July 1, 2019, Laws 20/22, now Law 60, were signed, better known as the Puerto Rico Incentive Code (“Code” or “Law 60”). The Office of Business Incentives in Puerto Rico attached to the DDEC is created to process, evaluate, process, administer and oversee tax incentive decrees.
By combining the global effect of the 20/22 program, the potential impact of both incentives will be highly significant for the economy. The total number of decrees combined could increase from the current level of 4,060 for a total of 7,450 decrees and total employment (direct, indirect and induced) of 62,500 could increase to 112,876 jobs. While the fiscal impact would increase from $240 million to $438 million annually.
Source: Economic Intelligence
