International

Chilean President abandons his fiscal reform and presents new proposal

Photo: MSM

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.

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“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).

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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.

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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

Iran Reports 201 Dead, 747 Injured After U.S. and Israeli Strikes

The Iranian Red Crescent Society reported Sunday night (local time) that at least 201 people were killed and 747 injured following attacks carried out by Israel and the United States against the Islamic Republic.

A spokesperson for the humanitarian organization said more than 220 rescue teams have been deployed across affected areas and that relief operations are continuing without interruption. The official highlighted the difficulty of treating the large number of wounded and the urgent need for additional resources in impacted provinces.

Out of Iran’s 31 provinces, 24 have reported damage, according to a statement carried by the Isna news agency. This marks the first overall casualty toll released by Iranian state-affiliated media since the launch of the offensive.

Among the dead are 85 schoolgirls from a school in the southern city of Minab, according to the country’s judiciary. “The number of martyrs at the Minab girls’ school has risen to 85,” the local prosecutor’s office said, as quoted by the judiciary’s website, Mizan Online.

Iranian President Masud Pezeshkian described the attack as a “savagery” that “constitutes a new black page in the record of countless crimes committed by the aggressors.”

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Meanwhile, the international community continues to monitor the situation closely amid concerns about possible further reprisals and the broader impact on Middle East stability, energy markets, and global security.

AFP noted that it was unable to independently verify the casualty figures or the circumstances surrounding the events.

International

Pope Leo XIV Urges End to ‘Spiral of Violence’ in Middle East

Pope Leo XIV on Sunday called for an end to the “spiral of violence” in the Middle East, following military strikes by the United States and Israel against Iran and subsequent retaliatory bombardments in the region.

“Faced with the possibility of a tragedy of enormous proportions, I urge the parties involved to assume their moral responsibility and stop the spiral of violence before it becomes an irreparable abyss,” the pontiff told the crowd gathered in St. Peter’s Square at the Vatican.

Speaking during the Angelus prayer, the U.S.-born pope said stability and peace cannot be achieved through threats or weapons. “Stability and peace are not built with reciprocal threats or with arms that sow destruction, suffering and death, but only through reasonable, sincere and responsible dialogue,” he declared.

The leader of the world’s 1.4 billion Catholics also called for diplomacy to “regain its role” amid escalating tensions.

In addition, the pope urged Afghanistan and Pakistan to urgently resume dialogue after several days of clashes between the two countries.

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International

Security Council to Hold Emergency Meeting on Middle East Crisis

UN Secretary-General António Guterres on Saturday condemned the “military escalation in the Middle East” following attacks by the United States and Israel against Iran and Tehran’s retaliatory strikes, just hours before an urgent meeting of the UN Security Council.

“I call for the immediate cessation of hostilities and de-escalation,” Guterres said in a statement.

The Security Council is scheduled to meet on Saturday at 21:00 GMT (4:00 p.m. in New York) to address “the situation in the Middle East,” the United Nations announced.

The meeting, during which Guterres will deliver remarks, was convened at the request of France, Bahrain, Colombia, Russia and China, according to a diplomatic source.