The Senate this week approved the idea of legislating the national reconstruction bill with 26 votes in favor. The initiative seeks to cut the corporate tax rate from 27% to 23% and establishes tax invariability.
The vote took place Tuesday morning in Valparaíso. Finance Minister Jorge Quiroz led the process and noted that the minimum support from the ruling coalition was enough to move forward.
The bill includes a tax cut, tax invariability for up to 25 years and an employment tax credit. UDI president Guillermo Ramírez expressed full confidence that the reform will become law before the end of July.
The majority of the opposition voted against. However some sectors suggest possible agreements on fiscal compensations and invariability periods during the particular discussion.
