Chile Congress Backs Bill Generating Billions in New Tax Revenue.

Chilean lawmakers have approved legislation aimed at reducing tax evasion and increasing government revenue. The bill includes stricter penalties for tax crimes, improved oversight of businesses, measures to combat informality in the economy, and limits on cash payments. The legislation is expected to increase government tax income by 1.5% of GDP, or approximately $4.5 billion. The approval of the bill comes just in time for President Gabriel Boric to present the 2025 budget proposal, which will include an additional $1.2 billion in government income. However, some economists have expressed doubts about the projected revenue from the legislation. [Extracted from the article]