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The Ministry of Finance has until June 30 to decide whether or not to authorize Codelco and BancoEstado to reinvest a portion of the profits generated over the past year.
Given this situation, the National Copper Corporation holds meetings last minute to make a decision, while the financial institution has already defined and, with the authorization of the Ministry of Finance , will capitalize 50% of its profits of 2017.
According to Pulso de La Tercera, in this way, the United States 207 million in benefits obtained by the entity, about 103.5 million dollars will go to cash, and the same amount of capital of the bank. The decision is in line with the percentages badigned between 2017 and 2016, where a capitalization of 50% was approved, and 54% for 2015.
Codelco, according to the capitalization law in force, must define before the end of the year. month Reinvestment of the profit. And at the end of the year, calculate the funded contribution, ie the contributions of new treasury funds.
Although the decision is not taken, the Government emphasizes that the decision to be taken is not only fiscal; but also financial, since it must be seen if the copper company's projects and their investment projects for resources from their profits, would be more profitable or failing that the treasurer would take these resources and invest them. in Treasury badets, to obtain a higher return, then capitalize the business, for example, at the end of the year.
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