However one of the main points of the Puerto Rico Section 936 Funds Order is as follows:
#2 "Withholding tax applicable to income derived from Puerto Rico Section 936 Fund investment is reduced from 30 percent to .001 per cent." While I have not checked to see if this agreement was modified or if it was "retracted," if that is what is done to agreements which may not appeal to the public any longer, if I held funds in Puerto Rico under the "Section 936 Funds Order" or otherwise, unless there was a restriction as to the use of funds internally, I would consider doing the following:
- Ascertain where Puerto Rico, being defined as a territory of the USA, falls under "Avoidance of Double Taxation Treaties between the USA and other countries. See the link to and the extract from to the following article which highlights the concepts re Section 936 Investment Order: "Puerto Rico is in worse shape than you think — and US bankers aren't helping" http://www.sheknows.com/living/articles/1119737/john-oliver-on-puerto-rico "Because Puerto Rico is a territory and not a state, it remains "foreign to the United States in a domestic sense." Oliver didn’t have any interest in settling the contentious topic of Puerto Rico statehood, but focused instead on how problematic it is that many state laws have loopholes on the island. ... One law that created an abundance of wealth in Puerto Rico was Section 936, a tax break that was given to businesses to encourage them to set up shop in Puerto Rico instead of moving overseas."
- Once the definition of the tax status of Puerto Rico is clarified (in light of "Section 936 Funds Order"), it would allow:
- Individuals and countries to explore which set of withholding tax rates they are to use when complying with the treaties and the movement of funds into and out of Puerto Rico. This would allow them to remain tax compliant.
- Investment choices such as the rental of land, property in Puerto Rico as these are all business concepts which involve withholding tax and which impact on the choices which an investor can make.
- Rent the land surrounding a person's home and plant green bananas, plantains, and fruit trees. While this would not be done on a large scale, I would export the short term and longer term crops to near by islands. If ten such properties in each area are being rented, while persons look at the returns of such a project and develop the skills needed to make this type of investment successful, this would benefit the island as Puerto Rico is located in the middle of a number of small islands and there are boats moving up and down these islands which would facilitate the movement of the goods.. Yes agriculture is labor intensive, however if I do not sell it, I can eat it, so plant what you would like to eat.... In this day and age, I am not looking at major investments as the country, being located in a tropical area in the midst of climate change, my crops would be exposed to weather forces which are relatively unpredictable. Thus I would need to manage my risks...
- I may not have a lot of competition with this type of project in the Puerto Rico location as unlike the Cayman Islands where because of my geographical location I am facing competition from the agriculture rich Cuba and Jamaica,
It also includes provisions designed to protect the global poor, who are almost certainly going to bear the brunt of the warming sparked by the rapid industrialization of other, richer countries.This includes allocating funding from wealthy states to developing ones as well as committees tasked with exploring solutions to issues like the inevitability of climate refugees.( See the following link: http://www.businessinsider.com/global-warming-paris-climate-change-accords-earth-day-2016-4?utm_source=feedburner&utm_medium=referral.
"Food Street: Feeding off the kerbside and creating close communitiesDisgruntled over the price of a lime, two Queensland locals have started Australia's first integrated, edible streetscape in a bid to live a simple organic lifestyle of community and fresh food.
Urban Food Street began in 2009 in the leafy green Sunshine Coast suburb of Buderim, and now acts as a blueprint for the nation to give purpose to the great Australian nature strip."It started with us deciding to plant limes, and then it evolved into this notion that if we put the limes out on the nature strip people could pick a lime for whatever they need it for," graduate architect and one of the masterminds behind Urban Food Street, Caroline Kemp said."
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