International
Chilean President abandons his fiscal reform and presents new proposal
August 2|
Chilean President Gabriel Boric said on Tuesday that his government will not insist on a rejected tax reform bill and will promote new initiatives to raise the necessary funds to address some of its promised social proposals.
In June, the leftist ruler had said that his government would insist at the end of July in the Senate to resume the legislative processing of the tax adjustment.
Through a new Fiscal Pact, Boric said that the spending proposals involve resources for 8,000 million dollars to finance programs such as the Universal Guaranteed Pension to improve the lowest pensions, reduction of waiting lists in health, as well as greater investment in citizen security.
“This proposal considers the contribution made by growth, the reform of the state, the strengthening of tax oversight and taxes paid by the higher income sectors to be able to finance in this way the social expenses that are urgent,” he said in a televised speech.
“We are not going to insist in the Senate with the bill that was previously rejected”, he added.
Boric did not specify deadlines for the delivery and processing of the initiatives, or how much the total collection is expected to be.
The government’s new proposal will be divided into two projects, one to improve tax compliance and the other to adjust income tax focused on those with greater resources.
“This initiative will also include tax incentives for investment, productivity and formalization, as well as benefits for the middle class and a new regime for smaller companies,” he said.
He specified that the tax incentives would be equivalent to 0.5 points of the Gross Domestic Product (GDP).
The first project includes measures that seek to increase tax collection through legal modifications that do not imply a tax increase, which would increase tax collection by 1.5% of the GDP in net terms, according to a government minute.
Meanwhile, the second will be focused on income tax for both companies and individuals and will include incentives for investment, productivity and formalization, as well as benefits for the middle class and the new tax regime for smaller companies, which would have a fiscal cost of 0.5% of GDP.
At the investment level, tax incentives such as semi-instantaneous depreciation and a tax credit fund for investments with a multiplier effect on activity, employment and environmental sustainability are proposed.
It also commits to reduce by 30% the processing time for mining projects, according to the minutes.
Additionally, the plan includes five priority areas of productive diversification that by 2026 foresees three or four new lithium projects, two thirds of the energy matrix with renewable sources, 10-12 projects in the development of green hydrogen and an increase in the digital economy.
The original tax reform bill was rejected in March by the deputies and the government could only insist on its passage through the Senate.
International
20th Festival Salvadoreñísimo brings together thousands of salvadorans in Houston
Parades, baton twirlers, and a mix of Salvadoran and international music set the tone for the 20th edition of the Festival Salvadoreñísimo, held in Houston, Texas, with Tony Villatoro once again leading the organization.
This year, the highly anticipated event moved to a new venue: The Crown Festival Park in Sugar Land, Fort Bend County, within the “space city.” Despite the scorching sun of the open-air setting, spirits remained high, and a brief drizzle later brought relief and renewed energy to the celebration.
More than 5,000 Salvadorans gathered at the park, joining with Guatemalans, Hondurans, and even Mexicans to commemorate 204 years of independence for El Salvador and Central America. The festival was marked by a family-friendly atmosphere, where traditional foods such as pupusas, panes con gallina, pastelitos, and horchata could not be missed.
“Twenty years with this festival, and I am very grateful to the Salvadoran community that always shows up. Thanks to them, the sponsors, and to Diario El Salvador for supporting us since the beginning,” said Tony Villatoro, as more compatriots continued arriving to the celebration.
“I am satisfied. I didn’t expect this level of attendance, especially since we were trying a new outdoor venue with some challenges, but we made it through successfully,” Villatoro added.
The Festival Salvadoreñísimo, now a two-decade-long tradition, once again took place as part of Hispanic Heritage Month, a time when independence festivities run from mid-September through October.
International
El Salvador unveils 2025-2029 National Reintegration Plan for returned migrants
The Ministry of Foreign Affairs has launched the National Reintegration Plan for Returned Salvadorans 2025-2029, a strategy designed to create greater opportunities, ensure access to quality services, and provide a favorable environment for Salvadorans returning to their home country to rebuild their lives.
The initiative is supported by the United Nations Network on Migration, coordinated by the International Organization for Migration (IOM), financed by the Peacebuilding Fund (PBF), and backed by the Inter-American Development Bank’s (IDB) Migration Unit.
During the presentation, Vice Minister of Diaspora and Human Mobility Cindy Mariella Portal emphasized that migrants often face multiple challenges upon returning to their communities.
“That is why we are implementing actions that generate real and sustainable opportunities for these individuals,” she stated.
International
Authorities capture CJNG financial chief in international airport operation
A man identified as the main financial operator of the powerful Jalisco New Generation Cartel (CJNG) was arrested Thursday at Mexico City’s international airport, authorities reported.
The individual, named by Mexican media as Óscar Antonio Álvarez, was apprehended during an operation involving the army, navy, National Guard, police, and the attorney general’s office, according to a joint statement.
Álvarez is considered the primary financial operator of a criminal group originating in Jalisco, and the capture took place at Benito Juárez Airport as he arrived on a flight from Barcelona, Spain.
Authorities stated that Álvarez faces charges of organized crime and money laundering, specifically for receiving and transferring illicit funds. His work with the CJNG reportedly included purchasing properties and managing businesses in the tequila and livestock sectors.
According to El Universal, Álvarez was directly under the command of Rubén Oseguera Cervantes, “El Mencho”, the cartel’s top leader, for whom the U.S. offers a $15 million reward.
The CJNG, which operates throughout Mexico and in various parts of the world, was designated earlier this year as a “foreign terrorist organization” by the U.S. government.
Álvarez was handed over to the federal public prosecutor to determine his legal situation, the report added.
20th Festival Salvadoreñísimo brings together thousands of salvadorans in Houston
El Salvador unveils 2025-2029 National Reintegration Plan for returned migrants
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