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Government To Drop Tax Limit On Copper Royalty Bill, BCCh Minutes Due

CHILE
  • Finance Minister Mario Marcel told legislators that the government will amend a mining royalty bill to cap the maximum effective tax rate at 47% of operating profit from 48%, Diario Financiero reported. For companies producing less than 80,000 tons, the maximum tax burden will be 45.5%.
    • The government are expected to introduce the changes to the bill before Monday to be discussed at the Senate’s finance committee on Tuesday.
  • At 8:30am local (1330BST), President Gabriel Boric and Finance Minister Mario Marcel are scheduled to speak at the Enade national business meeting. Additionally, the central bank will also publish the minutes of its last monetary policy meeting.
  • Worth noting that on Wednesday, Boric tapped a respected lawmaker, Alvaro Elizalde, for his cabinet after his top liaison with congress resigned for health reasons, just as key bills including the mining royalty are bogged down in legislative talks. Boric accepted Ana Lya Uriarte’s resignation, according to a government statement on Wednesday, which added that she will need a prolonged period of leave.
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