Chile’s lower house passed into law legal project 12.093-08, the royalty bill, just three weeks after receiving it from the Senate plenary for a third-round discussion. The last sticking point in the bill was the maximum total tax burden for large mining firms, which the Senate’s finance committee dropped to 48% in April and then to 46.5%, as passed now by the lower house.
The 46.5% maximum rate applies to companies that sell more than 80,000t of copper per year, while for companies shipping 50,000-80,000t/yr the maximum is 45.5%.
The law is expected to increase Chile’s GDP by 0.45%.

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