The Minister of Finance, Mario Marcel, recalled the importance of unlocking the tax debate in the country and emphasized the Royalty Minero project, which is currently on hold in the Senate Finance Committee after difficulties in reaching agreements with the opposition.
In the framework of his presentation at Enade 2023, the Secretary of State pointed out that “when I have meetings with mining companies, what they tell me is that we have large-scale projects, but our problem is that, when we go to our shareholders and present them to them, , they ask us ‘What happens with the Mining Royalty in Chile?’ It can’t be that after four years we still can’t close this issue.”
Along the same lines, the head of the Treasury commented that “we have great convergence on the issues” and announced that “we are going to present the latest indications next week, but please, let’s close this issue.” “The fact that things are discussed and extended indefinitely means that the car is passing us, the train is passing us. We cannot stay below,” he said.
“Hopefully we can conclude this entire process at the end of the first semester and we can return to the National Congress with initiatives that interpret us, that are an expression of that transversal agreement that has been discussed,” Minister Marcel sentenced.
It should be remembered that during the last hours, the Government announced that it will present new amendments to the Royalty Minero project, which will reduce the maximum tax burden from 48% to 47%, in order to encourage 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 a total of six years for small and medium-sized operators that are seeking to expand their production.