In view of the rejection of the idea of legislating the Tax Reform Bill, it’s worth noticing that there are other legislative proposals currently in progress. On one hand, there is the mining royalty bill, which is currently in the Second Constitutional Procedure before the Senate. Additionally, bills proposing corrective taxes have been announced, which would seek to promote the preservation of the environment and health care.
Regarding the Tax Reform Bill, one alternative would be that the government decides to present individual projects with the objective of reforming specific tax matters, on which it could be easy to reach a generalized consensus. Therefore, it could promote a new general anti-avoidance rule, the elimination of certain tax exemptions, temporary reductions to the corporate tax rate for SMEs, among others.
The Government will not be able to present a bill similar to the rejected Tax Reform for a one-year period. However, it could insist before the Senate, where it would require a quorum of 2/3 to continue with the legislative process. If so, we make available the comparisons between the current legislation and the bill in the following links:
Reforma Tributaria – 1 Informe CH – Código Tributario (VF)
Reforma Tributaria – 1 Informe CH – Ley 16.271 (LIHD) (VF)
Reforma Tributaria – 1 Informe CH – Ley 20.712 (LUF) (VF)
Reforma Tributaria – 1 Informe CH – Ley de Impuesto al Patrimonio
Reforma Tributaria – 1 Informe CH – Ley de IVA (VF)
Reforma Tributaria – 1 Informe CH – Ley de la Renta (VF)
