Weekly Report - 14 October 2003

Come next year, foreign copper-mining companies in Chile may find themselves having to pay royalties and facing a more demanding tax régime. The prospect has been enhanced by a report submitted to a senatorial committee by the Servicio de Impuestos Internos (SII, the tax collection agency), showing that only two of the 10 biggest companies in that group paid any taxes over the past 10 years. The two who did pay were BHP-Billiton of Australia and the local Luksic group.