Today at 9am activist crashed the 2016 Puerto Rico Investment Summit at the Isla Grande Sheraton hotel. The arrived in mass and with banners and called for an end to Act 20 and 22. Both of these laws give unfair advantages to foreign and US corporations and investors. Act 20 gives a 100% tax exemption on dividends and/or profit distributions to both export services. Act 22 gives individual investors 100% tax exemption on dividends, interest income and all capital gains.The event had a heavy police and private security presence. Hotel security was verbally abusive and there some physical altercations as objectors to the event disrupted passage into the event room. We spoke with Pete (Just Pete) and Dr. Scott Brown, a Kansas City professor of finance at the University of Puerto Rico. This was an inter-organizational action and one of many to come, not just in the coming days but in the coming months.
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