The new Incentive Code, titled Act No. 60-2019, renames the Tax Exemptions Office as the Incentive Office and incorporates it to the Department of Economic Development & Commerce (DDEC by its Spanish acronym). The law also creates programs and incentives to help students and the medical community, as well as fomenting creative industries and eSports on the island.
“After much debate, by signing this law, we are complying with the programmatic commitment of my administration to create an efficient process that improves the way business is done in Puerto Rico. In addition, we create new incentives that promote the retention of our professionals and the development of emerging industries,” Rosselló affirmed.
