Arab Today, arab today bachelet proposes tax reforms in chile
Last Updated : GMT 22:03:31
Arab Today, arab today
Arab Today, arab today

Bachelet proposes tax reforms in Chile

Arab Today, arab today

Arab Today, arab today Bachelet proposes tax reforms in Chile

Santiago - AFP

President Michelle Bachelet sent Chile's Congress a bill Monday that would raise corporate taxes to fund a sweeping overhaul of the country's education system. The proposed reform aims to raise $8.2 billion to fund tuition-free public universities, a demand that fueled massive student protests under Bachelet's conservative predecessor Sebastian Pinera. Bachelet, a socialist who took office on March 11 for her second, non-consecutive term, said it was "the beginning of one of our government's most important reforms, along with education reform and a new constitution." If passed, as seems likely, the bill would raise the corporate tax rate from 20 to 25 percent by 2017 and eliminate a deferment on taxes on reinvested earnings. However, it would also lower the top tax rate for individuals from 40 to 35 percent. Salaries of $10,500 or more a month would be taxed at the highest rate. "The objective behind this measure is to give more equitable tax treatment to income from work in relation to income from capital," Bachelet said. It comes at a time when the Chilean economy is experiencing slowing economic growth as a result of falling copper prices and declining investment. Business groups have expressed concern about creating disincentives to investment. But Bachelet insisted growth would not be hurt by the reforms and that a healthy economy required an equitable society that strengthens its human capital and creates high quality institutions. "The (tax) is meant to have a political, ideological and public relations impact in terms of showing that all the traces of the Pinochet era are being erased in Chile's institutions, political and economic," said University of Chile analyst Guillermo Holzmann. Bachelet has promised to usher in free university education in six years, while improving the quality of public education and ending a system dominated by private, for-profit schools. The Central Bank, meanwhile, announced it was lowering Chile's projected growth rate for 2014. The 3.75-4.75 percent rate that was forecast was revised doward to between three and four percent amid weak Chinese demand, the bank said.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bachelet proposes tax reforms in chile Arab Today, arab today bachelet proposes tax reforms in chile

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Rebel supporters flood Yemen streets

GMT 06:39 2017 Monday ,27 March

Rebel supporters flood Yemen streets
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Nermein Al Fekki films “Foxes in the Valley”

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday