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Chile is preparing tax reform bill

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Chile is preparing tax reform bill

Santiago, Chile, Mar 24 (Prensa Latina) The Chilean government is currently preparing a tax reform bill that will be presented to Congress in June, with which it seeks to increase tax collection to fund social programs.
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According to Minister of Finance Mario Marcel, the plan will be aimed at reducing tax evasion and avoidance, adjusting or eliminating some tax exemptions, increasing income and wealth taxes and increasing mining contributions.

“The purpose is to boost a reform to finance sustainable development fiscally and responsibly in social, economic, political and environmental terms,” Marcel said.

During a session of the Finance Commission of the Chamber of Deputies, Marcel said that the goal is to collect 4-5 percent of the GDP during the four years of administration.

For the drafting of the bill, dialogue will be convened, to which scholars, social organizations, business associations and civil society groups will be invited.

“Chile’s tax burden is relatively low compared to the OECD (Organization for Economic Cooperation and Development) countries and does not contribute to a better distribution of income,” the minister of Finance noted.

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