The Postedia

Government announces reduction of maximum tax burden in mining royalty project

The Government will present new amendments to the mining royalty project that will reduce the maximum tax burden from 48% to 47%, with the aim of encouraging the expansion of investment projects.

These indications include the differentiated rate for mining operators that produce up to 80,000 tons and exemption from paying taxes for up to six years for small and medium-sized operators that seek to expand their production.

According to El Mercurio, the proposal also contemplates the joint payment of royalty, first category tax and final taxes for greater predictability and certainty in the calculation of the royalty.

Finance Minister Mario Marcel stated that these changes seek to strengthen incentives for investment in the mining sector.

The Executive also announced the creation of a multi-year fund for citizen security that would receive contributions from both the budget and the mining royalty starting in 2025. In addition, it seeks to reduce the processing time for mining projects by a third, through the creation of a technical table with the National Evaluation and Productivity Commission. The explicit allocation of resources to regions and municipalities will also be included in the regional revenue bill, along with greater demands for transparency and auditing in the use of these funds.

Follow us on

Source: Elmostrador





related posts

Post List

Hot News