Skip to Main Content

The Sovereign Investor Quotes Michael Pfeifer on Puerto Rico's Tax Incentives

May 2, 2013, The Sovereign Investor

Michael G. Pfeifer is quoted in The Sovereign Investor concerning Puerto Rico's status as a tax haven for wealthy Americans.  To see the full article, please go to The Sovereign Investor's website.

Excerpt taken from the article.

Trouble in Paradise

However, things may be changing in paradise. New Governor Alejandro Garcia Padilla last week submitted his 2014 budget, and he has also hinted at plans to reduce the government's $2.2 billion deficit to $775 million, partly through taxation. He plans to tax those who are "self-employed earning $200,000 or more in revenue and those who purchase homes worth $1million or more."

He has yet to provide details of these proposed taxes.

Nonetheless, Michael Pfeifer, an international tax lawyer at the Washington, D.C. law firm Caplin & Drysdale predicts that Puerto Rico's tax incentives will continue to be used by some wealthy taxpayers as "a new opportunity for income-shifting and tax-deferral."


About Caplin & Drysdale
Celebrating our 55th Anniversary in 2019, Caplin & Drysdale continues to be a leading provider of legal services to corporations, individuals, and nonprofits throughout the United States and around the world. We are also privileged to serve as legal advisors to accounting firms, financial institutions, law firms, and other professional services organizations.

The firm's reputation over the years has earned us the trust and respect of clients, industry peers, and government agencies. Moreover, clients rely on our broad knowledge of the law and our keen insights into their business concerns and personal interests. Our lawyers' strong tactical and problem-solving skills -- combined with substantial experience handling a variety of complex, high stakes, matters in a boutique environment -- make us one the nation's most distinctive law firms.

With offices in New York City and Washington, D.C., Caplin & Drysdale's core practice areas include:
For more information, please visit us at
Washington, DC Office:
One Thomas Circle NW
Suite 1100
Washington, DC 20005
New York, NY Office:
600 Lexington Avenue
21st Floor
New York, NY 10022


This communication does not provide legal advice, nor does it create an attorney-client relationship with you or any other reader. If you require legal guidance in any specific situation, you should engage a qualified lawyer for that purpose. Prior results do not guarantee a similar outcome.

Attorney Advertising
It is possible that under the laws, rules, or regulations of certain jurisdictions, this may be construed as an advertisement or solicitation.
©2021 Caplin & Drysdale, Chartered
All Rights Reserved.

Related Practice Area(s)