On 9 September 2015, the Puerto Rico Fiscal and Economic Growth Plan was published. The plan was prepared by the Working Group for the Fiscal and Economic Recovery of Puerto Rico, which was established by Governor Alejandro García Padilla by executive order to address Puerto Rico's debt issues. The main tax-related aspects of the plan include:
- Implementing a flatter low-rate corporate tax regime by reducing nominal corporate tax rates, eliminating inefficient corporate deductions and tax cre…