Press

After reading the report Taxes in Puerto Rico: Structure, Tax Burden, and Comparison with the United States, published this week by the Institute for Economic Freedom (ILE), I wonder what exactly we have achieved with so many injustices to the tax system of the country, colony, territory—call it what you will—other than to swell the public coffers in exchange for receiving less, time and time again.

Puerto Rico residents face a tax burden that rivals, and in some cases surpasses, that of several U.S. states, according to a new study by the Institute for Economic Liberty (ILE).

A study conducted by economist Edwin Ríos and researcher and academic Ángel Carrión Tavárez concludes that various federal taxes are also paid on the Island.

In Puerto Rico, at least 13 occupations are identified as requiring licensing only on the Island, while in the U.S. no similar obligation exists, writes Edward Timmons.

Puerto Rico has ranked last among U.S. jurisdictions for economic freedom for the third consecutive year, according to the Economic Freedom of North America 2024 report published by Canada’s Fraser Institute. The report evaluates economic freedom in 93 provincial or state governments across Canada, the United States and Mexico, using 2022 data, the most recent year for which complete information is available.

In an effort to eliminate bureaucracy that hinders access to the labor market and slows economic development, Senate President Thomas Rivera Schatz presented a legislative package to reform the occupational licensing system in Puerto Rico.