Piñera’s tax ‟reintegration”
One would have thought that Sebastián Piñera would have been much more eager to fix those aspects of Bachelet's reforms that were thought to be so negative for the Chilean economy. Indeed, it is striking that the economy has grown as it has given that all those damaging policies, which some feared would turn the country into “Chilezuela”, are still in place.
Finally last week, President Piñera decided that, despite the numbers, it was time to act, introducing a bill to ‟modernize” the Chilean tax code. By “modernize”, the president means to undo some of the ‟damage” done by Bachelet’s tax reform of 2014. This report is an update on the tax reform, with a calculation of what the effects of these measures would be on the fiscal revenue, as well as its chances for passage.
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