Chile's president Sebastian Piñera has recently
proposed a new tax reform for the country. This tax reform bill
hopes to modernise and simplify the tax system in Chile as well as
incorporating new rules to promote growth.
The Executive branch presented the bill before the Chamber of
Deputies on August 23, 2018 in its first legislative stage. The tax
reform bill was passed to the Treasury Commission where it is under
review. The bill may still be modified until enacted. The
administration hopes that the bill will come into effect on January
1, 2019.
The new tax proposal contains details outlining:
- migration to a single corporate tax
regime replacing the current dual tax regimes
