CP of Chile to reverse ‘Mega Reform’

The Chilean parliament passed the so-called “Mega Reform” promoted by the government of José Antonio Kast, backed by the business and employers' associations, the financial consortiums and the multimillionaire families of the country. 

The bill lowers several taxes on large companies and the super-rich, establishes a tax invariability, encourages foreign and local investors by guaranteeing them compensation, reintegrates the tax system and provides a temporary reduction in the inheritance tax and repatriation of capital. 

The reform was approved despite the opposition of progressive and left-wing forces in the parliament.

Deputy Daniela Serrano, head of the parliamentary group of the Communist Party of Chile, criticized the government for giving priority to its so-called mega reform in the midst of a climatic crisis. 

Serrano declared that her party will go to the constitutional court to reverse the tax reform aimed at “saving the pockets of the richest.”