Chile to Cut Taxes for Over 1.5 Million People, Que Pasa Reports

Chile’s government will propose legislation to cut income taxes for anyone who earns more than 500,000 pesos ($1,034) a month as part of a tax overhaul that would benefit the middle class and raise corporate rates, Santiago-based magazine Que Pasa reported, citing an interview with Finance Minister Felipe Larrain.

The tax cut would benefit more than 1.5 million people, the magazine reported April 12 on its website, adding that the government also wants to reduce duties on loans by more than half.

To contact the reporter on this story: Randall Woods in Santiago at rwoods13@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net

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