On 10 December 2018, Puerto Rico Governor Ricardo Rosselló signed into law Bill No. 1544 as Law No. 257 of 10 December 2018. Some of the main measures of the law include:
- A reduction in the basic corporate tax rate from 20% to 18.5%, resulting in a top rate of 37.5% (additional surtax, with a top rate of 19%, is maintained), as well as related adjustments in the alternative minimum tax;
- The introduction of optional fixed tax rates for corporations whose source of income comes substantially …