Chile’s Government Scraps Plans to Raise Taxes on High Earners

Chile’s government will “indefinitely postpone” its proposed income tax reform that envisioned higher rates on top individual earners and lower corporate levies, Finance Minister Mario Marcel said on Monday.

President Gabriel Boric’s administration will instead focus its efforts on other bills, including legislation that helps simplify regulations and proposals that strengthen the tourism and construction sectors, Marcel said. He added that global economic uncertainty has increased in recent weeks.

“Since there is no support from a significant portion of Congress, and at the same time, there are a number of other issues that do require priority, we must be ...