The Chamber of Deputies rejects the tax reform bill.
On March 8, 2023, the tax reform bill proposed by President Gabriel Boric’s government in July 2022 was rejected in general by the Chamber of Deputies.
The rejected tax reform bill aimed to increase fiscal revenue by approximately 3.6% of GDP through various modifications to the Chilean tax system, including an increase in personal income tax rates, the creation of a wealth tax, and the introduction of a tax on retained profits of investment companies, among other changes.
Notwithstanding its rejection, the main proposals of this bill are described below.
Rejected proposed amendments