Tax Exemption

Companies from around the world have retained McConnell Valdés' services because we are at the forefront of knowing the details and assisting our clients with using Puerto Rico's tax exempt program to their best advantage.

Puerto Rico's tax exemption program is managed by the Economic Development Administration, generally known as Fomento. This agency is not only involved in the process of approving grants of tax exemption (among other functions, it makes the initial finding of eligibility for tax exemption) but it also offers assistance in locating industrial sites and provides a number of financial incentives for new companies and for existing companies that propose to expand their operations. Our Tax Exemption Attorneys work closely with Fomento.

Since the first Industrial Incentives Act was enacted in 1948, we have assisted our clients in obtaining hundreds of grants of tax exemption. This experience has given the members of our Tax Exemption practice area a practical expertise that enables them to anticipate problems that may arise, and to develop solutions and alternatives to ensure that our clients receive all the available benefits. Our firm's commitment to the economic growth of Puerto Rico is nowhere more evident than in our work with all types of clients seeking to develop businesses and prosper in our community.

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