Chile: Bill that reduces stamp and duty tax to be sent to Congress

CHILE - In Brief 26 Mar 2013 by Luis Cespedes

Minister of Finance of Chile Felipe Larrain announced today that the Executive will send a bill to Congress that reduce the stamp and duty tax on credit from 0.4% to 0.2%. The reduction in this tax (imposed on loans) is likely to generate more fears of overheating of the Chilean economy. Moreover, this announcement occurs just a few days after the government indicated that the implementation of macro-prudential policy was under analysis. The impact of this reduction in the CPI would be -0.25 percent.

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