Marcel says that Chile will convene the political parties for talks on the tax law


(Bloomberg) — Chile’s government plans to meet political party leaders soon to reach an agreement on a new tax reform bill, Finance Minister Mario Marcel said Friday.

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“We have already completed a consultation process, a first round of meetings, and the next step is to convene the political parties to have a deep discussion and reach agreements,” said Marcel.

The government’s first reform bill, which sought to raise revenue to about 3.6 percent of GDP by closing loopholes and creating a wealth tax, was rejected in Congress in March. After this defeat, the administration of President Gabriel Boric indicated that it would immediately begin work on another attempt.

Boric’s administration is also focused on advancing other proposals, including pension reform and a bill that aims to “decentralize” Chile, giving regional governments more control over their own finances, Marcel said.

Read more: Chile’s government on display as lawmakers reject key tax reform

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