Mining industry readies proposal to replace and deliver DL 600 this week
Mining guild’s President said that they are the most affected by the repeal of this mechanism.
The tax reform process, including the repeal of Decree 600, is alert to the mining industry. “There is always concern about the tax changes. Nobody likes to pay more taxes. Clearly increasing taxes affects and we have to see how it will make up for that, “said in Cesco Week Diego Hernandez, Antofagasta Minerals’s CEO, and National Mining Society (Sonami)’s VicePresident.
Diego Hernandez said that the DL 600 “has been a very useful tool, the proof of that is the large industrial park that we have today and all foreign investment has come. It has been a good tool, although for many years and, probably need to refine”.
Impact
Sonami’s President Alberto Salas, shares with Hernandez the concern about tax reform and said to DF: “We are working to get our ideas. We are going to send to the Finance Committee of the Chamber of Deputies and to the Executive our view. “
The Sonami emphasizes that they want to contribute in a technical discussion with the authority to see the positive and negative impacts of the proposal.
“Of all the investments, which cares more about DL 600 is mining, because we have a long term business, that need a structure for funding stability. So the mechanism is so necessary, “said Salas.
An important fact he stressed, is that “the government is looking for more resources and the repeal of Decree 600 does not generate a penny more. If the tax on pisco or diesel is upload, the more resources are generated, but if you remove the DL 600 more resources are not generated, it is all the same. The big difference is that with this can hurt-we are analyzing how much- the investment climate in Chile. “-
“We do not deny that the country wants general tax changes, but as mining sector we want to keep pace, with no special mechanisms that affect us,” Salas said.
Signs
In Sonami have already expressed their vision to the Economy Minister Luis Felipe Céspedes, his pair of Mining, Aurora Williams and executive vice president of the Foreign Investment Committee, Jorge Pizarro and ensure that these people are already studying some mechanisms to compensate DL 600. “We will present our proposal this week or next Monday at the latest,” Salas said.
When asked Diego Hernández if review their investments as a result of the tax reform, he said that “mining investments are slow. We always have to have a long term perspective and make our decisions based on that, not only of the situation. “
Source: Diario Financiero
