29 jun 2023

Marcel in the plenary session of Chile Day: "The tax reform is committed to not touching foreign investors"

The Minister of Finance closed the first day of the event in New York, addressing issues such as tax reform, pensions and the constitutional process.

investment welcome

The authority, towards the end of its presentation, delivered a clear message to foreign investors. "Foreign investment is welcome to contribute to the development of a new inclusive and sustainable growth framework," he stressed.

He also stressed that the "strong and credible" institutional framework, as well as "transparent" regulations, "respect" for the rule of law, and a "solid and resilient" economy are part of Chile's strengths, to which he added also a highly educated workforce.

The dissenting vote on the rate, one of the main issues that investors asked the vice president of the Central Bank on Chile Day

Along these lines, he stressed that Chile has a "sophisticated financial market," which offers opportunities for both portfolio investment, venture capital, and foreign direct investment.

"Taxation on profits generated by foreign investment will remain stable after the mining royalty, given the general limit to the tax burden. The tax reform is committed to not touching foreign investors," he launched. The Secretary of State specified to the DF that he is referring to dividends from profits abroad.

In this way, he recalled that the corrective tax proposal and the green tax reform will be entered into Congress in the second part of this year.

Also, he recalled the wide network of trade agreements that the country has, which also aim at the protection of investors, as well as "world class" standards in labor and environmental matters.

"Progress in addressing social and security needs should contribute to guaranteeing a favorable and stable business climate and make Chile a destination of choice for global investors," the minister closed.


Marcel advances in Chile Day that the government will announce next week measures to speed up the approval of green hydrogen projects

The Finance Minister spoke on the first day of Chile Day in Toronto, after his visit to New York on Tuesday.

After 1:30 p.m., the Minister of Finance, Mario Marcel, spoke on the podium of one of the main rooms of the Shangri-La Hotel in Toronto, in the financial capital of Canada.

The minister participated in the second day of Chile Day 2023, but in the first to be held in the Canadian city, after his visit to New York in Tuesday's session.

Chile Day: Government deploys in Canada to attract investment in public works and prepares changes to highway rates

At the meeting, the Secretary of State delivered a presentation identical to the one made in the Big Apple, focusing on the main political, social and economic events that the country has experienced in recent times, such as the adjustment of the economy and the public spending after the historic expansion to face the pandemic, the new constitutional process and the negotiations for tax and pension reforms.

However, one of the passages of the exhibition that generated the greatest interest among the attendees was in relation to the Executive's projects to promote the lithium and green hydrogen industry.


23 jun 2023

After 13 years of processing, the United States Senate approves a treaty that avoids double taxation with Chile

By an overwhelming majority of 95 votes in favor and only 2 against, the US Upper House resolved to approve the proposal that was originally signed between the two governments in 2010.

Senator Charles Schumer (Democrat for New York), indicated just before the vote that this treaty "is one of the most important things that we have done in the Senate in recent months, because it is very important to the leadership of the United States. in things that matter to us in terms of climate change and clean technology. The treaty will have long-term benefits for both countries. It will expand investment in one of the most mineral-rich regions, it will ensure that Chinese competitors will not have an advantage".

The parliamentarian also added that "this treaty makes us closer and we must not forget that Chile has more lithium than any other country in the world and lithium is one of the key elements to make batteries for electric cars and make solar panels and other things." . This treaty is good news for American jobs, the clean energy transition, and strengthening our economic ties with a vital ally in South America.",entre%20Chile%20y%20Estados%20Unidos