MedWatch

Coloplast moves important production to country on tax haven watch list

So far, Coloplast has spent half a billion kroner (USD 75.9m) on establishing two new factories in Costa Rica, which the EU says is close to being a functioning tax haven. The medtech company rejects this as being a factor in the move, saying activities can occur in all countries, and it is openly publishing tax figures – just not for Costa Rica.

Photo: Coloplast/PR

A huge undertaking is well underway, as Coloplast is constructing a new factory in Central American country Costa Rica. While the country isn't quite on the EU's blacklist of non-cooperative jurisdictions for tax purposes, it has made it onto the "grey list."

Coloplast's Vice President for Group Finance Henrik Deneke maintains that according to its commercial policy, the company can be engaged anywhere on the planet and can freely publicize financial figures and reports.

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