Puerto Rico to Pay $680,000 for Next Phase of Minimum Tax Plan

The Puerto Rico Treasury Department signed a three-month contract worth $680,000 with a consulting firm that brought in a former OECD official to develop a plan for implementing a 15% minimum tax on large multinational corporations.

Procopio, Cory, Hargreaves & Savitch LLP, the firm selected earlier this year to advise Puerto Rico on implications of adopting the global minimum tax, secured its second contract with the US territory on Sept. 5. The firm is working with Juan Carlos Pérez Peña, who helped draft the global minimum tax rules when he was an adviser to the Organization for Economic ...