Pinera Says Chile Probably Will Cut Taxes on Loans, DF Reports

Chile’s government probably will reduce taxes on loans to help businesses and individuals access funding to create new products and services, Diario Financiero reported today, citing a speech by President Sebastian Pinera.

The reduction from today’s 0.4 percent tax rate would be part of a more than $1 billion initiative the government is implementing this year to promote innovation in the Andean nation, the Santiago-based financial daily reported.

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

To contact the editor responsible for this story: Andre Soliani at asoliani@bloomberg.net.

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