Chile Lower House Cmte Passes Tax Reform; Bill Goes to Floor

Chile’s lower house finance committee approved the government’s tax reform proposal in an article-by-article vote late on Monday, according to Finance Ministry statement.

• Reform includes a wealth tax with rates of either 1% or 1.8% depending on value of taxpayer’s total patrimony
  • To be applied to people with total wealth over 6,000 UTA (~$5.5m)
• Also approved modification to laws on inheritance and donations
• Legislation now moves to lower house floor

To contact the reporter on this story:
Matthew Malinowski in Santiago at mmalinowski@bloomberg.net

To contact the editors responsible for this story:
Juan Pablo Spinetto at jspinetto@bloomberg.net

Philip Sanders

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