Firms Worry About Puerto Rico’s Absence From Global Tax Debate

Two companies offered support for Puerto Rico implementing a qualified domestic minimum top-up tax with tax credits and non-tax incentives, as well as concerns about the US territory’s lack of representation in international tax discussions.

Eaton Corp., a power management company, and telecommunications provider Liberty Communications of Puerto Rico agreed that an elective qualified domestic minimum top-up tax, or QDMTT, is unlikely to harm investment decisions on the island, provided Puerto Rico implements a robust replacement for its existing incentives, according to unpublished documents obtained by Bloomberg Tax.

The documents were submitted as part of a public consultation that sought ...