Claudio Agostini, economist and professor at Adolfo Ibáñez University, has warned that constant modifications to Chile's tax structure are undermining incentives for private investment.
The expert noted that the frequency with which revenue rules are altered in the country acts as a barrier to economic growth. The lack of stability in fiscal policy creates an atmosphere of uncertainty that makes long-term financial planning difficult.
"The fact that taxes are being changed as frequently as they are in Chile is a problem," Agostini stated.
According to the academic, this regulatory volatility directly threatens the nation's economic engine. The ability to attract capital depends on a regulatory framework that allows economic players to clearly project their costs and benefits.
The impact on investment
Changes to the tax code affect the expected profitability of productive projects. Agostini argues that a tax system that changes repeatedly prevents the execution of sustainable investment strategies.
When the rules of the game are constantly shifting, project risk increases. This discourages the arrival of foreign capital and the expansion of local companies, which seek environments with greater fiscal predictability.
The economist also analyzed the tax policy proposals currently being studied by the Government. Agostini evaluated initiatives aimed at increasing revenue through adjustments to the existing tax structure.
The academic's analysis focuses on the balance between the State's need for revenue and the preservation of a stable business environment. The lack of a permanent framework prevents investors from accurately calculating their future tax burden.
The expert emphasized that fiscal policy must avoid eroding the incentives that sustain the country's economic activity.