Word: chiles
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...Chile's government last week carried out a major overhaul of the taxes it imposes on the subsidiaries of the big U.S. companies (Anaconda and Kennecott) that mine 12% of the world's copper there. The new law, scrapping a legal tangle of income taxes, fixed selling prices and exchange-rate penalties that added up to 85% of operating income, provides for an ingenious graduated income tax in reverse. If production stays at present levels, the companies will pay 50% of operating income as their basic tax, plus 25% as a surtax. But the surtax will shrink with...
Coming at a time when U.S. copper prices are at a near record for peacetime, 36? a lb., the law is deftly designed to 1) boost production, 2) bring Chile millions of dollars in new capital and increased revenues, 3) raise company profits, and 4) provide the world with more of Chile's abundant copper. "A victory for good sense," commented a Santiago newspaper...
...formal merger of the two institutions is involved, and each will retain its individual observatories and other properties. Most of the Smithsonian Observatory's work will be done here, where research will be correlated, but it will continue to utilize its observatories in Chile and California...
Around the World. Since 1950, Mother Mary Columba has launched new missions on Likiep and Yap (Pacific islands), in Chile and Peru, on Mauritius Island in the Indian Ocean, in Formosa. Maryknoll's main activities around the world include...
...Harbor installations for Chile, Bangkok, and Basra, Iraq...