Chile Congress Approves Sweeping Kast Reform to Spur Growth, Rollout to Face Delays
The package cuts the corporate tax rate to 23% by 2029 and now faces vetoes and constitutional challenges that could delay enactment.
- On Tuesday, Chile's Congress approved a sweeping tax reform package championed by President Jose Antonio Kast, aimed at reducing the corporate tax rate from 27% to 23% by 2029.
- The Executive branch considers the bill crucial for reviving Chile's economy, aiming to raise growth from 2.5% last year to 4% by end of term while reducing unemployment to 6.5%.
- With 27 votes in favor, the Chilean Senate approved compensating municipalities for property tax reductions on primary residences for individuals over 65, requiring the National Treasury to transfer approximately 190 million dollars.
- Finance Minister Jorge Quiroz confirmed plans to veto provisions including the "financial right to be forgotten," while the Constitutional Court reviews opposition challenges to environmental and investment rules.
- Analysts like Mariano Machado of Verisk Maplecroft termed the vote a "credibility test" for Chile's ability to ensure long-term policy certainty as the government seeks to finalize the reform by September.
53 Articles
53 Articles
Santiago. José Antonio Kast, ultra-rightist president of Chile, announced that he will promote an “agency against organized crime and terrorism” (ACOT), with 30 bills to give the state more anti-crime power, constitutionalizing that security is a state duty, tightening penalties, immigration control and the prison regime to prevent gangs from operating from prisons.
(Mexico City = Yonhap News) Correspondent Song Gwang-ho = The Chilean government is pushing for strong legislation to crack down on organized crime, including a constitutional amendment aimed at strengthening public security.
After a significant legislative victory with the approval of a mega-tax reform, the president now seeks to keep his promises hard-handed
Chile's Kast Unveils Tougher Agenda to Fight Organized Crime
The president takes up the agenda against crime, his big campaign promise, and says “Chileans are going to get their freedom back”
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