PGU already has insured financing and goes to the third procedure

The Senate Chamber dispatched the project that creates the Universal Guaranteed Pension (PGU).In this way, the initiative that will benefit a universe of more than 2.4 million people were in a position to fulfill their third process in the Chamber of Deputies and Deputies.

It should be noted in terms of financing that the exemptions addressed by this project that will collect almost 0.70 points of the GDP to finance the PGU are exemptions in the capital market: to tax the greatest value obtained in the alienation in the stock market of certain instruments withstock market.

Exemptions in the real estate market, with the elimination of special credit to construction companies, and benefits of DFL 2 housing acquired before 2010.

VAT involvement to service benefits.

Regarding life insurance, the impact with tax on inheritances and donations is established, all the benefits obtained by virtue of life insurance contracts concluded since the publication of the law, except for the insurance of disability and survival of the DecreeLaw No. 3,500, of 1980.

And the exclusion of the payment of the territorial tax surcharge to the property owned by the Treasury.

The president of the Finance Commission, Senator Ximena Rincón explained the norm analyzed in this instance stating that “it seeks to make the tax system more simple with respect to the use of several instruments of the capital market, the real estate, those that affect VAT and theluxury market, among others. ”

In this last aspect, he also detailed the formula proposed by the Finance Commission to tax luxury assets and assets, including yachts, helicopters, planes and cars.

For the academic of the UCSC facare, Andrés Ulloa, the measures go on the right path, because several of them were made at a time when these markets were incipient and we had to develop them, but that situation has already changed.

However, he said, his elimination will bring problems.

“For example, the case of exemptions to the capital market, it seems to me a correct measure in terms of horizontal equity, in the sense that income from capital gain as well as work income is taxed.But I perceive that it will generate negative effects on the capital market because transactions should be affected.The same happens in the real estate market, it was an exemption that was ever made for a depressed real estate market and that must be eliminated, but that I perceive will negatively affect the takeoff of this market after the pandemic, just when it is in decline and required and requiredMeasures to reactivate it, ”said the academic of the UCSC facare, Andrés Ulloa.

For his part, the UDD economist, Carlos Smith, said that all these measures have to be approved, will bring costs and benefits.Yes there will be increasing when wanting to realize the dream of your own house, since the high interest rates are added.

"But this is an advance but it is part of a major whole that we must start to speak seriously," he emphasized.