Lithium Power International Ltd (fka LTHHF)

[Dr_Vonschellan]

Commie_Senator Daniel_Núñez says,_OK, we'll_approve 47%_Royalty
plus Tax Maximum Cap.
Royalty: the first proof of the new correlation of forces after the elections
https://www.msn.com/es-us/noticias/others/royalty-la-primera-prueba-de-la-nueva-correlaci%C3%B3n-de-fuerzas-tras-las-elecciones/ar-AA1aUfe6
See goggle English translation below.

Dear Commie Senator Daniel Núñez, oh my, that is awful white of you to drop your original Royalty+Tax maximum cap 50% demand down to 48% and once more to drop it to 47%... butfockyou... it is still too high. After yourass whupping in the May 7 voting, things are changing for the better in Chile. We're all going to live with the existing kosher 42.5% cap now (or maybe a little less).... so eatshit you old-school sleazeball extortionist.

The Doctor
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Royalty: the first proof of the new correlation of forces after the elections

The results of the Constitutional Council were not positive for the government. And although the makeup of Congress does not change, there is a new correlation of force at the country level, where the Republicans appear as the first political force that could begin to be reflected in the voting on bills.

A first test of those will begin to be given as soon as this afternoon, when the Senate Finance Committee continues the vote and analysis of the project that changes the structure of the royalty for mining.

The Finance Commission approved at the end of April the creation of compensation in favor of the State for the exploitation of copper mining, called royalty, taxing the sales of the exploited minerals, now it must begin to enter into the most controversial issues, especially the maximum rate of the tax burden.

At this specific point the government entered an indication. If originally it was intended to set said ceiling at 50%, with the indication it had already been reduced to 48%. Now, said figure was reduced for the second time, this time to 47%.

This limit considers the set of tax payments made by the industry, where the royalty, the first category tax and the final taxes (additional) are added. If the total of the liens exceeds the maximum established by law, the royalty will be the component that is adjusted until the limit is met.

The new modifications also aim to lower the ceiling for mining companies with productions of up to 80,000 metric tons of fine copper (TMCF), to 45.5%.

How is the voting going?

From the opposition they affirm that although yesterday's results do not change the conformation of forces that exist in Congress, a new effort should be made to seek broad consensus and in this way generate a project that brings together the different perspectives that exist on the matter. .

Senator RN, Rodrigo Galilea, who has closely followed the discussion and negotiated with the government, states that "we must take a look at the progress we have made, but now through the prism of the results that were obtained yesterday, and move forward in a non-conflictive and thus seek the greatest possible agreements to avoid polarization”.

In the UDI, meanwhile, the head of the senators' committee, Gustavo Sanhueza, the party's vision is for the government to make a new proposal regarding the maximum (tax) load (aka cap) that mining will have. This is because the 47% currently set reduces the country's competitiveness. Although he states that this opinion of the party is given before the results of yesterday's elections, he comments that "the government must analyze yesterday's results and open up to expanding the agreements and therefore seek alternatives to what has already been delivered." ”.

The senators agree that given the new political configuration, the debate must be carried out calmly to find meeting points that give stability to the country.

On the other side, the PC senator, Daniel Núñez, summons Chile. We are going to respect the agreement reached and not be the “mouse tail wagged by the Republicans”.

"It doesn't change at all", he reaffirms the progress of this project and adds that "there is a compromise on the text and I hope it is respected". For the legislator, 47% of the total charge is the "limit that the government must set", since he assures that if it continues to drop, then he will not support it.