Big business leaders from Santiago’s Commerce and Production Chamber yesterday criticized the new proposed tax amnesty laws recently introduced by Congress as in their view it will actually keep companies from complying with their tax obligations. 

President of the Chamber Mr. Ricardo Fonduer said in a statement that the new tax amnesty law is more geared towards increased collections via excessive taxes than to actually promote the growth of companies. He continued to say “The country deserves an integral tax reform which allows the State to obtain increased income, but starting from the growth of the economic activity and the creation of new jobs.” 

The Internal Taxes Agency according to Ricardo Fonduer already has enough information to control the companies’ day to day operations. Fondeur said the tax amnesty law proposal has set averages of the corporate tax rates in effect, which are affecting their cash flow.  “We expect that our legislators reconsider the aspects raised here so the efforts to obtain greater levels of transparency don’t become a new burden for taxpayers.” 

The bill was approved last week and was submitted to Congress via the Senate. 

The present ruling party the PLD is expected to pass the bill in the next few days in the Chamber of Deputies.