Chile's Ministry of Finance has announced that on 23 August 2018, the draft law for the modernization of taxation was submitted to Congress, which includes reforms of the tax system to encourage growth, entrepreneurship, investment, savings, and employment. The text of the draft law is not yet available, but reportedly includes:
- The replacement of the current dual corporate tax system with a single fully integrated tax system with a first category tax rate of 27%, and the introduction of a …