Puerto Rico's Ministry of Finance issued a release on 24 August 2023 announcing that Governor Pedro Pierluisi is submitting a new version of the tax relief project to the Legislative Assembly that incorporates certain proposals put forward earlier in the year and certain new proposals. This includes tax relief for both individuals and corporations. According to the release, the proposed tax relief for individuals includes a reduction in the income tax rate to 22% for income over USD 41,500 up to USD 81,500 and the introduction of a 30% tax rate on income over 81,500 up to USD 300,000, which...