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CHILE: Government Looks To Reduce Corporate Tax Rate

CHILE
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  • The government is looking to cut the corporate tax rate to 25% from 27%, while creating some other levies, according to a report in Diario Financiero, citing a MoF presentation. This would be above a 23% rate reportedly asked for by business groups. A future bill would also create a new 16% capital gains tax for some shareholders, which would be retained on payment of dividends, and another 4% tax on all dividends, according to the report. The various measures would be revenue neutral for the government.
  • No macro data are due today, with month-end activity data for October expected later this week.
  • Separately, it was announced that Minister of Foreign Affairs Alberto van Klaveren will travel to China from Dec 2 to 5 to hold discussions on bilateral relations and regional affairs, amongst other topics.
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  • The government is looking to cut the corporate tax rate to 25% from 27%, while creating some other levies, according to a report in Diario Financiero, citing a MoF presentation. This would be above a 23% rate reportedly asked for by business groups. A future bill would also create a new 16% capital gains tax for some shareholders, which would be retained on payment of dividends, and another 4% tax on all dividends, according to the report. The various measures would be revenue neutral for the government.
  • No macro data are due today, with month-end activity data for October expected later this week.
  • Separately, it was announced that Minister of Foreign Affairs Alberto van Klaveren will travel to China from Dec 2 to 5 to hold discussions on bilateral relations and regional affairs, amongst other topics.