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Chile – Brutal Tax proposals impacting multinational entities

On 8 November 2019, the Chilean government reached an agreement with the Senate’s Finance Commission to strengthen the government’s social agenda. The three principles of such agreement are:1. To increase tax revenues to fund the Government’s social agenda. 2. To assist the aged population 3. To support SMEs from a tax perspective.  This agreement will probably also result in amendments to the original Tax Modernisation Bill submitted by the Government months ago, while other…

Myths and Truths of Inequality in Chile: To What Extent this explains the outbursts shaking this advanced country

The profound differences between the upper tiers and the rest of the population are presented as the unique cause of the phenomenal crisis that the country has been experiencing for the past three weeks. However, the statistics show a contradictory reality, which does not stand up to simplistic explanations. After the deep economic reforms implemented during the dictatorship of Augusto Pinochet, and since deepened since the return of democracy in 1990, Chile became a paradigm. For free-market advocates, it…

Chile created five national parks over 10 million acres in a historic act of conservation

Chile created five sprawling national parks to preserve vast tracts of Patagonia – the culmination of more than two decades of land acquisition by the US philanthropists Doug Tompkins and Kristine McDivitt Tompkins and the largest donation of private land to the government in South America. The five parks, spanning 10.3m acres, were signed into law by Chile’s ex-president Michelle Bachelet in 2017, launching a new 17-park route that stretches down the southern spine of Chile to Cape Horn. McDivitt…

Don’t Slay the Chilean Puma

A rewrite of the constitution would destroy the opportunity for the poor. When Chilean President Sebastián Piñera cancelled plans to host the Asia-Pacific Economic Cooperation summit in Santiago this month, he called it “a difficult decision that has caused us a lot of pain.” The pain for Latin America’s most successful economy is only beginning. Negotiations with terrorists and their political representatives seldom end well. Yet that’s what Mr Piñera seems to have…

Chiles stunning wealth, but poor services behind massive protests

The decision to add 30 pesos to the cost of a ticket on Latin America’s most modern public transportation system this month drew little attention inside or outside Chile, at first. People quietly fumed. A week later, high-school students launched four days of turnstile-jumping protests. Crowds of angry youths built up inside metro stations. It’s not about a 4-cent hike in subway prices With no warning, on the afternoon of Oct. 18, they set fire to stations, then trains. Then grocery, department…

Santiago is the 5th richest city in Latin America

Consulting firm Pricewaterhouse Coopers recently ranked the richest cities in the world by measuring economic output and consumer buying power. Santiago ranked 53rd overall, but 5th among other cities in Latin America, after Mexico, Buenos Aires and Sao Paulo and Rio de Janeiro. The survey ranked 151 major cities by dividing the city GDP by the purchasing power of each resident. Tokyo and New York took the top two positions by a high margin: according the report, Tokyo is worth US$1.2 billion and New York US$1.1…

Legal Representatives in Chile

For a person to qualify to be a legal representative of a company in Chile under Chilean law, the person must be an adult over 18 years of age and a permanent resident or citizen of Chile. They do not need to be an attorney, accountant, or even a partner / shareholder in the company; however, they may be such a person. They can simply be an employee of the company or volunteer third-party. Foreigners can not act as legal representatives of a company even if they own a majority of the company, until they have…

Argentine and Brazil agribusiness have an “ecological surplus”

Economist Nicolás Torre, from the IERAL Institute of the Mediterranean Foundation, published an extensive thread on the social network Twitter, highlighting that both Argentina and Brazil have a positive “ecological footprint”. That is, they have more natural resources available than those they consume annually to survive. Torre’s report came in response to accusations against South America in recent weeks. First by The President of France, Emmanuel Macron, when he said that Brazil…

Speculation vs. opportunism – a dangerous difference

The ability to be flexible and reactionary appeals to many would-be investors. They like the idea of identifying an opportunity and seizing it with gusto, certain it will pay handsomely. I agree there are advantages to being quick on your feet when locking down an opportunity, but this sort of transaction should trigger a moment of self-assessment. When making the choice on whether to purchase, ask yourself, “Am I a speculator or opportunist,” because the differences between the two are dramatic…

Chile declares agricultural emergency as extreme drought hits Santiago and outskirts

The Chilean government has declared an agricultural emergency in many areas to try to fast-track a series of relief measures for farmers, including provision of drinking water and medicine for animals. Central Chile is in the midst of what scientists have called a Mega Drought — an uninterrupted period of dry years since 2010. The capital Santiago, home to about half of the country’s population of 18 million and the regions of Coquimbo, Valparaiso and O’Higgins bear the brunt of this year’s…

A sophisticated web of real estate brokers used Airbnb illegally to trick 75,000 unknowing guests

A $21 million lawsuit filed in New York alleges that a sophisticated web of real estate brokers used Airbnb illegally to trick 75,000 unknowing guests. Is this just New York or is it worldwide? A $21 million lawsuit is accusing a web of real estate brokers of using Airbnb to illegally rent over 250 listings to nearly 76,000 unknowing guests.  The lawsuit, filed in New York City on Jan. 14, accuses Metropolitan Property Group, a real estate brokerage firm, of using a litany of fake identities…

Why testing the market is a waste of time and money

In soft market conditions, I struggle to understand the motivation of some vendors who list their properties for sale but were unlikely to ever accept the reality of what buyers are prepared to offer.  The thing is I don’t really get why they would bother because it takes a lot of effort and a lot of their money to essentially just test the market. Why would anyone go through a campaign that lasts a number of weeks, costs a few thousand dollars, and requires keeping your property fastidiously clean…

First Global Industry Report “Blockchain Real Estate”

The State of Blockchain in Real Estate  –  2019 The FIBREE Industry Report is the most important yearly contribution of FIBREE to the market. It provides in-depth articles and a global overview of the latest developments in the field of Blockchain and Real Estate. I hope you find the study of some interest and value. Source: John Dean MarkunasFIBREE New York City Regional Co-ChairFoundation for International Blockchain Real Estate Expertise (Visited 53 times, 1 visits today) About Gateway…

How Will Climate Change Impact Latin America?

Regardless of whether you believe global warming is man-made or not, it’s clear that it is happening. According to Nasa the earth’s global temperature has risen by 1.62 degrees since the last 19th century, while five of the warmest summers on record have happened since 2010. As a result, established weather patterns around the world are being upended. Climate change will have an outsized impact in Latin America and will lead to far-reaching economic and social challenges. Indeed, in a recent…

Using soft porn to sell Residential Real Estate?

Australian Real Estate practises have always raised a few eyebrows but is this taking it to a new level. The company that commissioned this video has an appropriate name “LJ Hooker”. The thing is that often these non-traditional ideas work which is why brokers sometimes use them. This video went viral and has paid off big time for the owners, who have secured A$1.72 million (NZ$1.83m) prior to an approaching auction. The home sold to a 23-year-old first home buyer (that probably tells you something).…
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