The mining committee in Chile’s upper house approved the 2018 royalty bill, which is now up for discussion by the senate plenary. The mining committee began studying the bill in March 2021, after it was passed by the lower house plenary despite a negative vote by the lower house’s finance committee.
Discussion by the finance committee had been suspended for most of 2020 due to Covid-19.
The bill is intended to modify the 2005 royalty law, which determines the tax based on profits. The proposal is to move to a policy of calculating the tax according to the amount of metal produced. Also, the new bill would apply the tax to firms that produce less than 12,000t/yr. Such firms are currently exempt.

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