ANNOUNCEMENT 10 Jul 2010In July 2010, the government of Puerto Rico announced a targeted tax change.
NUMBER OF INTERVENTIONS
Negocios en Puerto Rico (2015) Hospitalidad y Desarrollo Hotelero.
On 10 July 2010, the government of Puerto Rico Act No. 74 of 2010 otherwise known as the "Tourism Development Act". The core scope of this Act is to spur the development of tourism projects via providing the following incentives:
The denoted incentives, according to Act No.74 are suposed to remain valid for 10 years (from the opening date) for the eligible tourism project. They also have the possibily to be extended for another 10 years upon review.
Act 74 also states that these incentives are exclusively designated for the tourism projects executed by the following profiles of business entities: