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Medtronic urges Puerto Rico to legislate on the Global Minimum Tax

The chief executive officer of one of the world’s leading medical device manufacturers, Geoff Martha, said that if action is not taken, the island’s competitiveness and industrial growth could be affected

September 3, 2024 - 4:29 PM

Updated on September 3, 2024 - 4:29 PM

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According to Medtronic's chief executive officer, Geoffrey S. Martha, Puerto Rico has the potential to take advantage of the relocation trend of multinational companies that, for strategic reasons, are moving their production to other regions outside of China. (Pablo Martínez Rodríguez)

By Efraín Montalbán Ríos

Periodista de Negociosefrain.montalban@gfrmedia.com

If the Puerto Rico government does not take prompt action to legislate the implementation of the 15% Global Minimum Tax (GMT) on the industrial sector, it could affect the competitiveness and growth of the island’s industrial sector, said Geoff Martha, Medtronic’s chief executive officer (CEO).