On 9 August 2014, the Chilean government submitted final amendments for the country's major tax reform bill currently in Congress. The submission follows agreement in principle in July for the bill and the introduction of the amendments.
The main amendments include:
- The introduction of an alternative tax mechanism imposing a 27% corporate income tax (CIT) rate in addition to the proposed increase in the standard CIT rate from 20% to 25%
- The introduction of a 35% tax on distributi…