International
Chilean President abandons his fiscal reform and presents new proposal
August 2|
Chilean President Gabriel Boric said on Tuesday that his government will not insist on a rejected tax reform bill and will promote new initiatives to raise the necessary funds to address some of its promised social proposals.
In June, the leftist ruler had said that his government would insist at the end of July in the Senate to resume the legislative processing of the tax adjustment.
Through a new Fiscal Pact, Boric said that the spending proposals involve resources for 8,000 million dollars to finance programs such as the Universal Guaranteed Pension to improve the lowest pensions, reduction of waiting lists in health, as well as greater investment in citizen security.
“This proposal considers the contribution made by growth, the reform of the state, the strengthening of tax oversight and taxes paid by the higher income sectors to be able to finance in this way the social expenses that are urgent,” he said in a televised speech.
“We are not going to insist in the Senate with the bill that was previously rejected”, he added.
Boric did not specify deadlines for the delivery and processing of the initiatives, or how much the total collection is expected to be.
The government’s new proposal will be divided into two projects, one to improve tax compliance and the other to adjust income tax focused on those with greater resources.
“This initiative will also include tax incentives for investment, productivity and formalization, as well as benefits for the middle class and a new regime for smaller companies,” he said.
He specified that the tax incentives would be equivalent to 0.5 points of the Gross Domestic Product (GDP).
The first project includes measures that seek to increase tax collection through legal modifications that do not imply a tax increase, which would increase tax collection by 1.5% of the GDP in net terms, according to a government minute.
Meanwhile, the second will be focused on income tax for both companies and individuals and will include incentives for investment, productivity and formalization, as well as benefits for the middle class and the new tax regime for smaller companies, which would have a fiscal cost of 0.5% of GDP.
At the investment level, tax incentives such as semi-instantaneous depreciation and a tax credit fund for investments with a multiplier effect on activity, employment and environmental sustainability are proposed.
It also commits to reduce by 30% the processing time for mining projects, according to the minutes.
Additionally, the plan includes five priority areas of productive diversification that by 2026 foresees three or four new lithium projects, two thirds of the energy matrix with renewable sources, 10-12 projects in the development of green hydrogen and an increase in the digital economy.
The original tax reform bill was rejected in March by the deputies and the government could only insist on its passage through the Senate.
International
Venezuela accuses U.S. of using Naval Deployment to pressure Maduro government
The world’s largest aircraft carrier, the USS Gerald R. Ford, joined the U.S. Navy’s anti-drug operation in Latin America on Tuesday—a deployment Venezuela has condemned as an attempt to pressure President Nicolás Maduro from power.
In a statement, the U.S. Southern Command confirmed that the carrier, ordered to deploy nearly three weeks ago, has entered its area of responsibility, which includes Latin America and the Caribbean.
“The world’s largest aircraft carrier will strengthen the United States’ ability to detect, monitor, and dismantle illicit actors and activities that threaten the security and prosperity of U.S. territory and our safety in the Western Hemisphere,” said Pentagon spokesperson Sean Parnell.
According to the White House, the U.S. government under Donald Trump has carried out about twenty operations in the Caribbean and the Pacific since early September, resulting in the deaths of 76 suspected drug traffickers.
However, U.S. authorities have not yet presented evidence that the targeted vessels were being used for drug trafficking or posed a direct threat to the country.
The operations have raised concerns in Caracas, where the Maduro administration views the deployment as a strategic move aimed at provoking regime change in Venezuela.
International
Venezuela mobilizes forces nationwide as tensions with U.S. rise
Venezuela’s armed forces launched a “massive” nationwide deployment on Tuesday in response to what the government calls “imperialist threats” from the United States, which continues its anti-drug military operation in the region and is preparing for the arrival of its most advanced aircraft carrier.
Since late August, U.S. forces have maintained a growing presence in the Caribbean to combat alleged drug trafficking originating from Colombia and Venezuela. The operation has resulted in the bombing of 20 vessels in international waters in the Caribbean and Pacific, leaving 76 people dead.
Venezuelan authorities claim the U.S. mission is aimed at toppling President Nicolás Maduro. While insisting he seeks peace, Maduro has repeatedly warned the country is prepared to defend itself and has frequently showcased military activities.
A statement from Venezuela’s Defense Ministry said the deployment includes land, air, naval, river and missile systems; armed forces units; the Bolivarian militia; and additional police, military and civilian defense structures.
State broadcaster VTV aired speeches from military leaders in various states, along with images of troops mobilizing and equipment being positioned.
However, analysts note that these frequent and highly publicized announcements do not always lead to visible operations on the ground.
On Monday, Maduro cautioned that Venezuela has the “strength and power” to respond to any aggression, including mobilizing civilians. “If imperialism were to strike and do harm, from the moment the order is given, the entire Venezuelan people would mobilize and fight,” he warned.
International
Jara: “Real toughness” means targeting drug money in Chile’s crime fight
Left-wing presidential candidate Jeannette Jara said during Chile’s final debate on Monday that the “real tough approach” to crime is to go after the financial networks behind drug trafficking and organized crime.
Rising crime, often linked in public discourse to a surge in irregular migration, has become the top concern among Chileans and has dominated the election campaign.
Although Chile’s homicide rate has nearly tripled over the past decade — from 2.5 to 6.7 per 100,000 inhabitants — the country remains one of the safest in Latin America, according to the United Nations.
“I want to call on the right-wing candidates to join us in targeting those who control the money behind drug trafficking and organized crime. That is real tough action,” Jara, who is favored to win Sunday’s first-round vote, declared during the debate.
All eight candidates faced off on Monday night in the final televised confrontation before the election.
Polls — unavailable since they were suspended on November 2 — indicate that far-right candidate José Antonio Kast is likely to finish second behind Jara, but would hold the advantage in a potential December 14 runoff.
Kast is expected to consolidate support from three other right-wing contenders: Evelyn Matthei, Johannes Kaiser and Franco Parisi.
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