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  • (DiarioFinanciero) The president, accompanied by the finance, labour and social development ministers, announced the source of financing for the new fiscal responsibilities, pointing to the elimination or adjustment of a series of exemptions and special tax regimes "that are not justified."
  • Thus, he explained that the benefits that exempt capital gains in liquid stock transactions form taxes will be modified, making them now taxable.
  • In turn, he also announced that the special VAT credit will be restricted in favour of construction companies, which allows them to recover what they paid for said tax.
  • Another adjustment contemplated by the project is to restrict the special regime for DFL-2homes, which today do not pay taxes on the income they receive from their rent. Pinera said that the benefit will be restricted to those who own more than two homes with a DFL-2 franchise.
  • Also, the president pointed out that some services wil be subject to VAT, but without providing further details.
  • A final adjustment announced is to limit the tax benefits for inheritances and life insurance.
  • **Govt. submitted the new pension bill to Congress today for immediate discussion.