Act 20 of 2012

Act 20 of 2012 refers to legislation in Puerto Rico aimed at promoting economic development. Specifically, it encourages new businesses and investments in targeted industries by offering tax incentives. This includes reduced income taxes for eligible businesses, exemptions on certain property taxes, and benefits for manufacturing, services, and export activities. The goal is to attract investment, create jobs, and stimulate economic growth in Puerto Rico, which has faced economic challenges. By providing these incentives, the government hopes to make the island a more attractive place for businesses to set up and operate.