If Congress passes the bill to revamp the U.S. tax code, companies with operations on the island would be treated as those functioning abroad. The bill would put a 12.5 percent tax on intellectual property income made by those companies. Gov. Ricardo Rossello said Friday that companies would be taxed at a minimum rate of 10 percent on their overseas profits.
The move would make it less attractive for companies in Puerto Rico to stay there since they could get a more favorable tax rate elsewhere.
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