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Brazil & Southern Cone - September 2014 (ISSN 1741-4431)

ECONOMY: Bachelet hails historic tax reform

President Michelle Bachelet has scored her first big political victory since taking office in March – approval of a major fiscal reform. The reform – which aims to generate US$8.3bn in additional annual revenues by raising the corporate tax rate and ending some tax exemptions – is essential to her plans to deliver universal free education system in Chile (from primary to tertiary level) within six years. Amid growing concern about the country’s economic slowdown, there are worries about the impact of the reform on domestic economic activity and investment.

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