Chile: Boric’s proposed tax reform was rejected

Chile’s Chamber on Wednesday rejected the sweeping tax reform proposed by the country’s president, Gabriel Boric, a measure aired during his election campaign that stipulated increasing tax collection in the South American nation.

Boric’s reform bill fell short of support, garnering only 73 votes in favor, 71 against, and three abstentions.

To be approved, at least 78 affirmative votes were required.

This project contemplated, among other things, modifying the income tax, reducing tax exemptions, changing the royalties received from mining activity in Chile, and taxes related to environmental protection.

Boric assumes this setback amid historic lows in popularity, which has been severely diminished since he supported a constitutional change at the end of last year, which Chileans overwhelmingly rejected at the polls.

With information from LGI

For the full picture, see our Brazil Tax Reform: Complete Guide.