Dalmau says he’ll impose 15% tax on corporations, repeal non-useful incentives
- The San Juan Daily Star
- Oct 9, 2024
- 1 min read
By The Star Staff
Puerto Rican Independence Party (PIP) gubernatorial candidate Juan Dalmau Ramírez on Tuesday clarified his proposed 15% tax on foreign corporations.
Following his participation in a forum organized by the Puerto Rico Manufacturers Association, Dalmau said that in his government program “Patria Nueva” he proposes establishing a uniform rate of 15% on the net income of all foreign corporations.
He also will eliminate tax incentives that turned the island into what he called a “tax haven” and do not contribute to the economy.
The candidate added that if he wins the race for governor, he will promote local entrepreneurship by reducing tax rates for Puerto Rican corporations.
“Yes, [this forum] allowed me to reiterate that it is not about eliminating tax incentives that are part of some understandings and contracts that the government has signed and that are in force; they are law between the parties,” Dalmau said.
“Secondly, there is also the review of another type of subsidy that has nothing to do with industrial incentives,” he said. “These incentives must be reviewed so that if they are not injecting enough into the economy or creating jobs, they must be reviewed to relocate them to those that are more beneficial for the country.”
Dalmau said that in order for the island to be competitive he will not eliminate truly contributory contracts.
“What I am here to do is to collaborate with industrialists to see how we can strengthen that sector of the economy,” he said.
It's interesting that the PIP candidate for governor is the only one emphasizing retooling the native capital in order to remove PR from the dependency economy that was created, 126 years ago, as a way to dominate the country, By eliminating tax incentives that almost exclusively benefits foreign companies should be a component in the party 's economic plan to strengthen PR economy. Instead of keep functioning as a "tax heaven" economy, he's inviting foreign industrialists to participate in the restoration of the national economy as partner not as beneficiaries only.
Regardless your political orientation or your nationality, Mr. Dalmau proposal is gear toward a fair and balance combination of sources and players that will rescue PR from the bankruptcy…