PR governor inks business law changes

The governor signed the measures during the Chamber of Food Marketing, Industry & Distribution (MIDA by its Spanish acronym) convention.

“The incentives under these laws stem mainly from our conviction that Puerto Rico’s workers are the best in the world,” Fortuño said.

The legislation looks to help local businesses expand their service offerings abroad and to attract businesses from outside Puerto Rico to offer their services to the world through local talent.

“We are certain our people have the talent, education, capacity, experience and knowledge to compete in the global market,” the governor said.

The amendments include one to partially exempt eligible businesses from municipal business taxes (patentes). Another sets decrees for people from outside who set up businesses in Puerto Rico in order provide certainty that incentives benefits won’t be altered.