Writing off groceries as a corporate expense, a common practice among Chile’s wealthy, will get harder as the government moves to clamp down on tax avoidance to raise revenue needed to pay for social programs.
Chilean firefighters are struggling to control a blaze around the city of Valparaiso that has destroyed more than 2,000 homes, just two weeks after an earthquake collapsed houses in the north of the country.
Chile may turn to its sovereign wealth funds to finance the expansion of its state-owned copper company Codelco as metal prices and economic growth approach four-year lows and the budget deficit widens.
Chile is betting on the expansion of state-owned copper producer Codelco, and may turn to its sovereign wealth fund to finance the investment, even as metal prices and economic growth approach four-year lows.
The world’s biggest copper miners are urging Chile not to squander its mineral potential amid mounting environmental opposition, power shortages and rising labor costs and taxes in Latin America’s wealthiest economy.
Chilean President Michelle Bachelet sent her flagship tax bill to Congress less than a month after taking office, saying it would aid sustainable and equitable growth in Latin America’s wealthiest nation.
Chile lifted an evacuation order of coastal areas after the strongest earthquake in four years killed six people and prompted President Michelle Bachelet to order military leaders to the region to maintain order.