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Puerto Rico QOZ program Puerto Rico has its own range of local development tax incentives to supplement the federal tax benefits achieved by rolling over capital gains into real estate development projects located in one of Puerto Rico's opportunity zones.
Puerto Rico does not have a local WARN statute, but the US federal WARN Act applies in Puerto Rico for mass layoffs, which may include pay in lieu of notice in certain situations.
The statutory severance formula for employees hired on or after January 26, 2017, regardless of years of service, changes to three months of salary plus two weeks for each completed year of service. The statutory severance is capped at nine months.
Non-compete clauses in employment contracts are valid and enforceable in Puerto Rico under general freedom of contract principles but must comply with requirements established by the Supreme Court of Puerto Rico.
? PUBLIC LAW 87 AUTHORIZATION TO RECRUIT AND TRANSPORT ? It is unlawful for any person, any organization, or the agent of a person or organization, to recruit or transport laborers for employment outside Puerto Rico without authorization by the labor secretary.
If the employer requires or permits an employee to work during a time scheduled to be the employees meal period, the employer must pay for that time at a wage rate equal to double the standard hourly rate. Title 29, Part I, Chapter 13, Section 287.
Act 80 (the Unjust Dismissal Act) regulates employment termination of employees hired for an indefinite term. Puerto Rico is not an 'employment at will' jurisdiction.
Act 80 (the Unjust Dismissal Act) regulates employment termination of employees hired for an indefinite term. Puerto Rico is not an 'employment at will' jurisdiction.