Chile mining companies say there is limited room to hike taxes -newspaper

Chilean mining firms believe there is room to raise taxes in the world’s top copper-producing nation, but caution that any hikes should strike a balance to avoid scaring away investments,Taxes “can be raised a bit,” Diego Hernandez, the head of industry group Sonami was quoted as saying in an interview with the newspaper.Mining companies in Chile pay taxes that total between 40 and 44%, he said, and any tax hikes should not exceed an overall tax burden of 50%.

“You can’t overplay your hand either,” Hernandez said, “because if you do, there will be less production and investment and that’s the balance that this reform should preserve.”

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