Chile Tax Reform Package Presented

Chile's Ministry of Finance has announced the presentation of a package of tax reform proposals on 1 July 2022. The measures of the package are similar to the measures proposed in April by then president-elect, Gabriel Boric, and include:

• Simplification of the tax system by providing for separate ("disintegrated") taxation of companies and shareholders;
• Reduction in the First Category Tax (corporate tax) rate from 27% to 25%, along with a 2% development tax that is paid unless a company pro…