• A voluntary and extraordinary regime is established for a period of 12 months for taxpayers domiciled, resident, established or incorporated in Chile to disclose assets and income located abroad that, having been subject to taxation in Chile, were not timely declared or taxed, subject to a one-time substitute tax at a rate of 10%.
• The rate is reduced to 7% if the assets or income are brought into Chile within the first 3 years from the publication of the law (that is, until October 17, 2029) and remain invested, directly or indirectly, for at least 5 years in real estate located in Chile, bonds or securities that meet the stock market presence requirements, or in any other public or private debt or equity instrument whose ultimate underlying assets are located in Chile and represent at least 80% of the total investment.
  
  Investments may be replaced during such period, provided that their destination is reported annually to the Chilean IRS.
  
  If these requirements are not met, the tax differential must be repaid, together with a penalty of 20% of the value of the disclosed assets.
• The reduced 7% rate will also apply to taxpayers holding assets or income abroad that have not been subject to taxation in Chile, either because they were not received under the rules of the Income Tax Law, because the CFC rules of Article 41 G of the Income Tax Law did not apply, or because of any other rule that would have required their recognition, provided that the same repatriation and investment conditions are met.
• Taxpayers may also disclose assets and income located in Chile when they are the beneficiaries thereof through companies, entities, trusts, fiduciary arrangements or agents located abroad.
• Only assets or rights that the taxpayer proves were acquired prior to January 1, 2026, and the income derived from such assets up to the date of disclosure, may benefit from this regime.
• Upon filing the disclosure and paying the tax, the taxpayer’s good faith shall be conclusively presumed. The Chilean IRS will have 12 months from payment to audit, after which any civil, criminal or administrative liability arising from non-compliance with foreign exchange, tax, corporate and securities regulations will be extinguished by operation of law.
• This tax may not be used as a credit against any other tax, nor may it be deducted as an expense.
• Failure to file the disclosure will be considered an aggravating circumstance for purposes of the penalty set forth in Article 97 No. 4 of the Tax Code.
• However, assets or income that, at the time of the disclosure, are located in countries or jurisdictions classified by the FATF/GAFI as high-risk or non-cooperative in the prevention of money laundering and terrorist financing may not benefit from this regime.
• This mechanism is the third iteration of voluntary foreign capital disclosure regimes in Chile, preceded by those implemented in 2015 and 2024.

Effective date: January 1, 2027, for a period of 12 months.