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Chile: Interview with Gemines chief economist Alejandro Fernández

Alejandro Fernández has been the chief economist at Gemines since 1990. A graduate of the University of Chile and the University of Rochester, he has also served as an adviser for Chile’s Ministry of the Economy and the World Bank, as well as an academic at the University of Chile. In October, President Sebastian Piñera hailed Chile as an oasis of stability in Latin America. However, the civil unrest that engulfed the country later that month and the subsequent promise of a new constitution have cast…

Foreign direct investment in Chile increases by 64% to USD 10.325 Billion in the first ten months

In October, the net inflow of foreign direct investment reached USD 850 million. At USD10.325 billion, foreign direct investment (FDI) in Chile in the first ten months of this year represented an increase of 64% on the same period last year and was in line with its performance over the past five |years (an average of USD10.584 billion for 2015-2019). According to the Central Bank of Chile, there was a net inflow of USDv850 million in October. The figure reflects a high level of equity contributions, which reached…

Chilean Accounting and Tax Compliance Requirements

The legalities for running a business in Chile are similar to those of other Latin American countries. However, there are a few differences concerning taxes, documentation, and licensing that are important to note in your research of Chilean business practices. Tax Rates Chile has four main taxes: Value Added Tax (VAT), Stamp tax, Customs duties, and corporate and personal income taxes. Other tax rates and rules are listed below: The Corporate income tax rate is 20% on worldwide income and capital gains There…

Analysis: Foreign Direct Investment in Chile – On the OECD path

In response to the changes underway in Chile, and the subsequent need for improved tools and skills for attracting foreign capital, on 16 June President Michelle Bachelet enacted the new Framework Act for Foreign Direct Investment, thereby replacing the previous legal instrument, Decree Law 600, dating from 1974. Chile is an attractive country for investors, as shown by the growth in Foreign Direct Investment (FDI) over the last ten years. During this period, FDI has risen from US$7.2 billion in 2004 to more…

Chile the most globalized economy in Latin America, says report

Chile has emerged as the most globalized economy in Latin America and moved up to 25th place in the world, according to global consulting firm Ernst & Young. Chile is among the countries to improve their position despite global economic uncertainty, the firm’s annual Globalization Index found. “Unlike other countries, the policies of Chilean governments have promoted openness in times of turbulence, taking the sufficient precautions so the economic turmoil does not hit the country hard,” Cristián…
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