Chile Moves to Reimpose Tax on Trading Profits After 20 Years

Chile’s government plans to remove a series of tax exemptions, including one on securities trading, to help finance an increase in pensions for the poor.

The pension reform, which will cost the government about $1.1 billion a year, was presented to Congress Monday for immediate discussion, President Sebastian Pinera said in a video address posted on his Twitter account.

The tax changes include the imposition of capital gains tax on trading in liquid securities, 20 years after it was removed, as well as other levies on the construction industry and inheritances. The light touch approach to taxes explains part of ...