Tax reform
Municipal association urges halt to contributions reform over lack of dialogue
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The Chilean Association of Municipalities accused Finance Minister Jorge Quiroz on Monday of showing no willingness to dialogue on the contributions project and requested to halt its processing until it is guaranteed that there will be no decrease in municipal revenues.
Chile's Chamber of Deputies sent the government's major tax reform bill to the Senate after approving its core measures, including a gradual cut in the corporate tax rate from 27% to 23%.
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Chile's Chamber of Deputies ended an eight-hour debate yesterday on the National Reconstruction Plan bill. The government-backed initiative aims to cut corporate taxes and provide investment certainty.
After the Constitutional Court struck down the December 2025 emergency economic decree, the Colombian government will present a tax reform to raise $16 trillion. Finance Minister Germán Ávila and President Gustavo Petro confirmed the plan in response to the fiscal imbalance. The measure aims to avoid cuts to social spending and address inherited deficits.
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Opposition senators criticized President José Antonio Kast's National Reconstruction Plan, labeling it a 'hidden tax counter-reform' due to tax cuts that would defund the state by up to US$2.8 billion annually. In a tense La Moneda meeting, they warned against rollbacks on social rights. The bill is expected to enter Congress on April 1.