Chile plans to raise copper mining royalties and reform tax system

Chile's finance minister, Mario Marcel, on Friday introduced a tax reform bill that increases copper mining royalties on companies that produce more than 50,000 tonnes a year and raises taxes on high-income earners to fund the government's proposed social programmes and reforms.

Chile is the world's biggest copper producer and the proposed bill aims to raise 4.2% of GDP over four years, with 0.7% going to a new guaranteed minimum pension fund.

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