Chile, Capitalist

Taylor Abshagen



Chile is among South America’s least corrupt countries. The top individual income tax rate remains 40 percent, and the top corporate tax rate is 20 percent. Other taxes include a value-added tax and a property tax. Government expenses equal 23.6 percent of total domestic output, and public debt amounts to less than 15 percent of gross domestic product. Starting a business takes seven procedures and six days on average and costs less than 1 percent of the level of average annual income. Chile has a 4.0 percent average tariff rate.

Big image