Finance Minister Marcel Show Signs Of Possible Mining Royalty Adjustment

Finance Minister Marcel Show Signs Of Possible Mining Royalty Adjustment (Diario Financiero)

• Finance Minister Marcel stated that the government is open to finding alternative designs for the mining royalty that meets its policy objective.
  • Marcel declared that “what is important about the mining royalty is to rebalance this distribution of economic income towards the country as a whole and use those resources to finance regional development, research and certain matters that contribute to making the Chilean economy more competitive and more productive.”
  • “If we find an alternative design that leads us to the same result, we will take it with great pleasure”, Marcel added while speaking in New York.
• Discussing the overall tax reform bill, Marcel explained “this tax reform focuses on the taxation of individual, the personal tax and the wealth tax”, pointing out that Chile’s tax burden has grown more slowly that that of its regional peers.
• When asked about the uncertainty of the constitutional process, the finance minister commented on the evolution of the opinions of supporters of both the approval and rejection.
  • “If we trust the polls, the support for a new constitution – adding those who are in favor of the proposal, those who are in favor but would like some changes and those who reject it but restart the process – is greater than it was in 2020”.