translated from Spanish: Session for tax reform: Government hopes to raise $471 million

up to the former National Congress arrived this afternoon the Minister of Segpres, Gonzalo Blümel and the Finance Minister, Felipe Larraín, in order to deal with the parl amentarios of the opposition of the Commission of finance responses from the last proposal by the tax reform bill. According to Emol, the document was called: “towards an agreement on the tax modernization project”. In terms of the progressive compensatory measures tabled by the Minister which amounted to a total of $471 million. In this sense, $106 million will be obtained by limiting the tax benefit to construction, while $56 million will be also limit the use of “market maker”. Also the detail notes that $177 million shall be for the benefit of 1% of investment in regions, in addition to US$ 80 million will be the result of the amendment of the thresholds of the rule which the profit from foreign operations. And in addition to this the $52 million of the taxation of life-saving insurance. In this sense, the Portfolio Manager explained that the withdrawals that are made from a life insurance with finally saves will be taxed with income tax.

Original source in Spanish