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Taxes may be high

Rental Income: Nonresidents earning rental income effectively connected with business are taxed at progressive rates. Income-generating expenses are deductible when computing taxable income.

Capital Gains: Capital gains taxes are imposed at a flat rate of 29% for nonresidents.

Inheritance: Inheritance taxes are levied on the net asset’s value, and imposed at progressive rates from 18% to 50%.

Residents: Residents are taxed on their worldwide income at progressive rates.

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Comments

#1 JOHN MCCARTHY | July 13, 2010

Hi,
Not sure you can answer this, but I own a lighting company that is doing some work in Puerto Rico, and I am looking to find out the tax rate for materials and labor in Puerto Rico. Can anyone help?
Thank you.

#2 HOWARD | August 02, 2010

House not assesed for thirty years and therefore no property tax. I was just told that under pr tax code there is no statue of limitations and govt can getthe tax money it says no matter that they never did their job of re-assessment- Commenst please

#3 MIGUEL (FINANCE CONSULTANT IN THE REAL ESTATE INDUSTRY) | August 30, 2010

Property Tax rates in this article are wrong. Property Taxes are not based on market value, but rather on construction costs as of the 1950's. This article is pretty off. I don't even know where the rates where taken from, since all property taxes are levied by Municipalities (there are 78) and all of them are different from on another. As for the Personal Property Tax, it can go over 7% in some instances. It would be a good thing if this article was re-written.

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