Word: chiles
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Tougher on Taxes. There is also evidence of a new spirit of fiscal responsibility by individual governments. Chile, for the first time in its history, is prosecuting a tax evasion case and has a tax reform bill pending in its Congress. Democratic and long-stable Uruguay instituted a personal income tax. increased its corporate tax two years ago. saw its revenues jump 22% last year. Argentina has added 200,000 residents to its tax rolls. Brazil's leftist President Joao Goulart not only is prodding his tax collectors, too, but is trying seriously to cut his federal budget...
...reputation as a binge drinker who at times embarrassed his nation. At first, occasional two-or three-day toots drew little attention. Then during his state visit to the U.S. last year, Arosemena managed to show up wobbly at a private chat with President Kennedy. Some months later, when Chile's dignified, austere President Jorge Alessandri visited Ecuador, Arosemena nearly collapsed as he tried to give his guest the traditional abrazo at the airport, then insisted on conducting the brass band. At cocktails, Arosemena saw that Alessandri's champagne glass stood untouched, plucked the goblet from beneath...
Petersen is currently chief geologist with the Cerro de Pasco Corporation and has written extensively on the Andes in Peru, Bolivia, and Chile...
...ouster of Dictator Marcos Pérez Jiménez. Openly supported by the Communists, the darkly handsome Larrazábal ran a close race with President Rómulo Betancourt in the elections that followed, and then was sent into semi-exile as Venezuela's Ambassador to Chile. Last week Larrazábal returned to Caracas for "a personal visit," and his supporters, many of them far leftists, gave him the full, fanatic Latin American welcome...
...Latin America's biggest nations, the prospects for foreign investors are steadily deteriorating. In Chile, where strikes in the U.S.-owned copper mines have become an annual rite, and taxes run as high as 81% of profits, Anaconda and Kennecott have scrapped expansion programs totaling $325 million. In Argentina, where the gross national product actually dropped 10% last year, some 35 U.S. companies have recently canceled investment plans. New investment in Brazil has been discouraged by a law that prohibits foreign companies from withdrawing any profits above 10% of invested capital and by expropriation of an International Telephone & Telegraph...