translated from Spanish: With a too general announcement, Piñera reveals its “tax modernization”

Sunday in political programs President Sebastián Piñera confirmed Maba that this month would not be income which renamed the tax modernization.
Surprised, the journalist with TVN, Matías de el Río, asked him if that meant that changes to the system, already promised in campaign to tax adjustment made by the Government of Michelle Bachelet would be only “a little help from cat”. No, he said.
However, following its announcement of tonight, doubts regarding the depth of the adjustment are in the air, at least until is known the presidential message detail and tax reform bill.
Shortly before 21:00 hours, and after a Monday’s celebrations for the macro economy, Piñera announced adjustments in national chain. More expected was to know the magnitude of the new levy, the detail of the sugar, emissions taxes, benefits to haul the new tax scheme for large fortunes and otherwise as they affect the Pocket digital tax. But this detail did not, prolonging the uncertainty after a particularly hard week for the performance of the Government according to the polls.
“Today I signed the Bill to modernize our tax system. What are the main principles, objectives and content of this tax modernization? Create a tax system more simple and unique, more equitable and fully integrated for all Chilean companies, unless a more favourable and special regime for SMEs, which will have lower tax rates. Thus, taxes paid by companies will be credit for taxes to be paid by persons, which will benefit more than 150 thousand SMEs and large sections of the class average, and also will provide life to all of our contributors”, said the Representative.
Add a system of accelerated depreciation or even snapshot for all companies, and that will be more favorable to the Araucania Region; Promote the development of SMEs through a tax system simpler and more comprehensible, with special investment incentives and lower rates of tax; Strengthen and clarify the rules to better combat evasion and circumvention; Extend until the year 2035 tax allowances for the recruitment of labor and investment in our extreme areas; Encourage the acquisition of housing by our class average, extending from 2000 to 4000 UF value of homes that can benefit from this franchise.
At the same time it will create a taxpayer’s Ombudsman, it will encourage the donation of basic goods duty-free; It will modernize and simplify the international taxation rules to attract more investment and will match the tax burden among companies that sell goods and services in the conventional form and those that make it in digital form.
Do very general? That was only the content of the ad that generated so many expectations in the business community, which has had lines cut somewhat with the President in the preview. Former colleagues have called his Government a change of fast air and an atmosphere of greater cordiality with the elite who is it who makes investment decisions. On the other hand, the sensation of the street still generating noise to Piñera. Something that the presidential message seems to not turn off, because in the ad for example, it is not clear how is solved which is still a soft patch for the economy: employment.
The highest grossing was one of the issues he had in vilo to the sector. But, for now, they will wait. The announcement, once again, only said will “modernize and improve” green taxes on polluting activities. “And, of course, to ensure revenue for the State, so the State to adequately fulfil their important functions, especially in terms of social policy and infrastructure”, says without in-depth.
The comments of some guilds is that it will inevitably need to know the detail of the project which will be dispatched to the Congress and land initiative. Although a doubt that commented on some chats known once the proposed tax piñerista was if the President’s message had a double meaning: it is opening to negotiate some reaches of the reform with a more open message? The doubts will persist until the details of the proposal are known.

Original source in Spanish