MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI China Daily Summary: Wednesday, July 24

IFO disappoints

MNI: GERMANY JUL IFO BUSINESS CLIMATE INDEX 87

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Finance Minister Says ‘No Red Line’ on Copper Tax Burden

CHILE
  • According to finance minister Mario Marcel, the government is willing to discuss lowering the tax burden for mining companies in a royalty bill before Congress.
  • Speaking in an exclusive interview with Bloomberg TV, Marcel said the industry is expected to offer suggestions in meetings with the government next week.
    • For reference, in changes he announced on Tuesday, the royalty would be reduced if the sum of all taxes exceeds 50% of operating profit.
    • “There is no red line,” Marcel said while in Washington DC for the IMF’s Spring Meetings. But any further concessions would require support for reforms, he said. “We cannot just introduce more flexibility and still have uncertainty on where the voting will go.”
  • For context, Marcel is steering President Gabriel Boric’s economic reform plans, which suffered a blow last month when lawmakers rejected a tax overhaul. “A wealth tax is one of the issues that has been most discussed,” he said. “Many people don’t like it. Some people say it’s too difficult to implement.”
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.