Act 60 or publicly called Act 22 is known as a 100% tax exception. To those individuals who move to the island of Puerto Rico as individual investors. To qualify for this program the investor must live on the island for a minimum of six months., bring their business, and then don’t have to pay any federal taxes. This is in hopes from the local government to help move the economy of the island. The most notable beneficiaries are Logan Paul, Brock Pierce, and artist Alec Monopoly.
In a recent interview with internet personality Philip DeFranco, Logan Paul lamented the fact he’s getting called a vulture. This comes after a month Bad Bunny released his music video for ‘El Apagón – Aquí Vive Gente‘.
Moreover, Logan Paul alleges that the Puerto Rican artist benefits from the same incentive he does. But did not present any evidence of what he said, meanwhile Act 60 (Act 22) does not apply to those who were born and live on the island.
“He is a Puerto Rican who lives in Puerto Rico and who, in private. Takes advantage of the same tax (benefit) program that he criticizes in public”, said the influencer.
Quickly DeFranco asked Paul if what he just said was true. Meanwhile, asking if his brother Jake Paul also made the move to the island under these benefits, stating “I know that and I see things like that, and it hurts”.
According to Logan, there are Puerto Ricans who know about this, and when he saw the video. Paul saw his image plastered in the middle and surrounded by a context that makes him look like a vulture in Puerto Rico. Although he says he loves Bad Bunny, in personal part he can’t support the hypocritical nature of their exploitation.
DeFranco invited Paul on his show so he could express the critiques he’s received while moving to Puerto Rico under Act 22, Logan also mentions that he’s given a hand to those in need after hurricane Fiona, just doesn’t promote it on social media. As well donatiing $25k to Taller Salud. A non-profit dedicated to better access to female health, reducing violence, and fomenting economic development through education and activism.
“This is our home, this is our island, and while I understand that many people who benefit from Act 20/22 have a bad reputation because in any business where money can be made there will always be vultures, it is easy to target me. and towards my brother as the ringleaders.”
Not only that, the urban artist does not qualify to be a beneficiary of Act 22 under current statutes. He resides on the island and has not lived, exclusively outside of Puerto Rico for more than 10 years.
But Bad Bunny would qualify to benefit from Act 20 (Services Export Law). That allows him to pay 4% taxes for all businesses he does outside of Puerto Rico. The majority of those who fall under the benefit of Act 20 are Puerto Rican or Puerto Rican-owned businesses.
Tell us what you think of what Logan Paul said about Bad Bunny.