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
U.S. to Limit Visa Duration for Foreign Students and Journalists
The United States has announced new limits on the legal length of stay for foreign students and journalists, marking the latest tightening of immigration policies under President Donald Trump.
The changes, outlined in an administrative rule published on Thursday, are expected to take effect in September, unless Congress blocks the measure.
Under the new policy, holders of student visas will be allowed to remain in the United States for no more than four years.
Foreign journalists will be limited to 240-day stays—approximately eight months—with the possibility of applying for extensions of the same duration.
The policy imposes even stricter rules on Chinese journalists, whose visas will be capped at 90 days.
More than 100 international news organizations and press freedom groups, including Agence France-Presse (AFP), criticized the measure in an open letter, arguing that it would reduce both the quantity and quality of international coverage of events in the United States.
The Republican Party, led by President Trump, currently holds a majority in Congress and has pledged to curb both illegal immigration and certain forms of legal immigration.
Previously, the United States generally issued student visas for the full duration of an academic program, while foreign journalists could receive visas valid for up to five years.
Central America
Nicaragua Cuts Diplomatic Ties With Italy Over Red Brigades Dispute
The Nicaraguan government announced on Thursday that it is severing diplomatic relations with Italy following criticism from the Italian government over Nicaragua’s long-standing decision to shelter Alessio Casimirri, a former member of the Red Brigades convicted in Italy for the 1978 kidnapping and murder of former Prime Minister Aldo Moro.
Italian Foreign Minister Antonio Tajani criticized the administration of co-presidents Daniel Ortega and Rosario Murillo on Wednesday for continuing to provide refuge to Casimirri, who was sentenced in Italy to six life terms for his role in Moro’s abduction and killing.
In a statement issued Thursday, Nicaragua’s Foreign Ministry said it was ending all diplomatic relations with Italy, describing Tajani’s remarks as “unjustified, aggressive, and irresponsible.”
Tajani made the comments during a gathering of conservative leaders from Europe and Latin America held in Madrid.
“We have absolutely nothing in common with the positions of extremist governments such as Nicaragua, a country that continues to harbor dangerous Red Brigades terrorists like Alessio Casimirri,” Tajani said, according to Italian media.
The diplomatic break marks a new escalation in tensions between the two countries over the decades-old case involving Casimirri, who has lived in Nicaragua for many years despite repeated calls from Italy for his extradition.
International
U.S. Strikes Hit Areas Near Strait of Hormuz as Tensions With Iran Escalate
Several U.S. strikes targeted areas near the Strait of Hormuz on Thursday, according to Iranian state media citing local authorities, as hostilities between the United States and Iran intensified.
Officials in Iran’s Hormozgan Province said the island of Qeshm was struck multiple times by what they described as U.S. missiles during the evening. The reports were carried by the Iranian news agencies Fars and Tasnim.
Iranian state television also reported that the Bandar Abbas region, located on the Iranian coast overlooking the Strait of Hormuz, was the target of what authorities described as an “enemy U.S. air attack.”
According to local officials quoted by state television, no casualties have been reported following the strikes.
The reported attacks come amid renewed military tensions between Washington and Tehran, although U.S. authorities had not immediately commented on the reported operations.
U.S. to Limit Visa Duration for Foreign Students and Journalists
Nicaragua Cuts Diplomatic Ties With Italy Over Red Brigades Dispute
U.S. Strikes Hit Areas Near Strait of Hormuz as Tensions With Iran Escalate
Tec de Monterrey honors one of its students for his contribution to nanotechnology in medicine
Defense Minister commends salvadoran soldier for Central American Cross Country victory
Extension of the state of emergency approved in southern Chile
-
International4 days agoICE reverses course and moves forward with New Jersey migrant detention facility project
-
International21 hours agoU.S. Strikes Hit Areas Near Strait of Hormuz as Tensions With Iran Escalate
-
International4 days agoJudge rules Trump’s IRS lawsuit was a “bad faith” attempt to manipulate the judicial process
-
International4 days agoMarco Rubio launches U.S. campaign to “dismantle” the International Criminal Court
-
International3 days agoFrance Holds Largest Bastille Day Military Parade as Europe Highlights Strategic Defense
-
International3 days agoPresident Noboa Declares New Security Strategy as Ecuador Faces Record Violence Levels
-
International3 days agoForeign Medical Teams Race to Prevent Health Crisis in Venezuela Earthquake Camps
-
International5 days agoVenezuela Earthquake Death Toll Rises to 4,490 as Rescue Efforts Continue
-
International2 days agoLatin Music Stars Unite in Miami to Raise Aid for Victims of Venezuela’s Devastating Earthquake
-
International21 hours agoU.S. to Limit Visa Duration for Foreign Students and Journalists
-
International21 hours agoEl Salvador Sends Eighth Humanitarian Flight to Earthquake-Hit Venezuela
-
International2 days agoTrump Administration Seeks Global Action Against “Resurgent” Left-Wing Terrorism
-
Central America21 hours agoNicaragua Cuts Diplomatic Ties With Italy Over Red Brigades Dispute