(Bloomberg) -- Chile is dialing back ambitions for its income tax reform plans that it aims to approve during September, the country’s finance minister said in an interview published on Sunday.
Finance Minister Mario Marcel told daily La Tercera that the bill under discussion, which aims to crack down on tax evasion, will be less demanding than previously planned, while still seeking to increase total revenue by around 1.5% of gross domestic product. He said he saw conditions for the bill to be approved before the 2025 budget is due at the end of September.
“The income tax bill is taking on a logic of a tax adjustment, more than a net increase in the tax burden,” he said.
Marcel also said that the administration is open to more creative solutions to advance its pension reform plans, though he declined to comment on specifics, ahead of a potential vote this week.
Chile’s economy slowed, as expected, during the second quarter, he said, adding that growth and investment would pick up in the second half of the year.
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