☀ Domingo Brief — Mexico Braces For Repatriations

Welcome back to the Domingo Brief! This week, we’re following Chile’s biodiesel innovation, Brazil’s airline mega-merger, and more.

Trivia of the Week 🎯

About 36% of you correctly guessed capital gains tax as the tax exemption stipulated by Puerto Rico’s Act 60 to attract investment from the United States. Under the incentives of Act 60, a person who becomes a resident of Puerto Rico is exempt from paying taxes on dividends and interest income from investments. However, like anything tax-related, it’s not that simple. Aspiring residents must meet several requirements, like meeting a presence test and showing evidence of not having a tax home outside the island, the latter of which usually means purchasing property in Puerto Rico.

Each week, tune back in for the answer to the previous week’s trivia question. No cheating!

🇧🇷 Brazilian airline Azul signed a memorandum of understanding with competitor GOL Airlines to merge and create a dominant carrier in Brazil’s market. GOL is currently undergoing bankruptcy proceedings in the United States, with the potential merger greatly expanding its possibility of financial survival. Despite concerns about restricted competition and overwhelming control of Brazil’s already small domestic market, the merger is likely to win regulatory approval as the Brazilian government prioritizes a financially stable air travel sector.

🇨🇱 Chile’s National Petroleum Company has begun to collect used cooking oil from restaurants and fast food outlets and repurpose it into biodiesel for gas pumping trucks in the country. The initiative aims to reduce the carbon dioxide footprint from the manufacturing and import process of traditional fuels by up to 80%. Chilean regulations stipulate a goal of 100M liters of the advanced biodiesel per year, having already processed 350K liters since the initiative’s launch earlier this month.

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