Puerto Rico's Governor, Pedro Pierluisi, has presented proposals to provide tax relief for individuals and corporations. This includes a reduction in the top individual income tax rate from 33% to 30%, along with an increase in the top bracket threshold from USD 61,500 to USD 81,500, as well as a reduction in the 25% tax rate to 24% on income between over USD 41,500, but not exceeding the new top threshold of USD 81,500.
For corporate income tax, the governor has proposed replacing the curr…