• A voluntary and extraordinary regime is established for a period of 12 months, allowing taxpayers domiciled or resident in Chile prior to January 1, 2025, to declare their foreign assets and income located abroad that, although subject to taxation in Chile, were not timely reported or taxed, subject to a one-time substitute tax at a rate of 10%.
• A reduced rate of 7% applies if the assets are repatriated within the first 3 years following the publication of the law, provided they remain invested, directly or indirectly, for at least 5 years in real estate located in Chile, bonds or securities that meet the requirements for listing on a stock exchange, or in any other public or private instrument, whether debt or equity, whose ultimate underlying assets are located in Chile and represent at least 80% of the total investment. The substitution of these investments for other investments in the country during said period is permitted, subject to the obligation to annually report their destination to the SII. In the event that the investment is not maintained in the country for five years, the taxpayer must reimburse the tax differential plus a penalty of 20% of the declared value.
• This same reduced rate will apply to taxpayers who hold assets or income abroad that are not subject to taxation in Chile -either because the income was not received in Chile or because the CFC rules of Article 41G of the Income Tax Law or other applicable regulations do not apply- provided that the same conditions regarding income and investment are met. 
• They may also report their assets and income located in Chile when such assets and income are derived from companies, entities, trusts, fiduciary arrangements, or agents located abroad.
• Only assets or rights that the taxpayer can demonstrate were acquired prior to January 1, 2025 2026, and income derived from such assets until up to December 31 of the same year the date of disclosure, will qualify for this benefit.
• Taxpayers will have a period of 12 months, starting from the first day of the third month following the publication of the law, to make use of this benefit. 
• Upon filing the disclosure and payment of the tax, the taxpayer’s good faith shall be conclusively presumed.
• The Chilean Tax Authority will have 12 months from the date of payment to audit compliance, after which all civil, criminal or administrative liabilities arising from non-compliance with foreign exchange, tax, corporate and securities regulations shall be extinguished by operation of law.
• This tax may not be credited against any other tax or deducted as an expense.
• Failure to file the disclosure will be considered an aggravating circumstance for purposes of the penalty established in Article 97 No. 4 of the Tax Code.
• Assets or income located in countries or jurisdictions classified by the FATF as high-risk or non-cooperative in the prevention of money laundering and terrorist financing are excluded from this regime.
• This mechanism represents a third iteration of voluntary foreign capital disclosure regimes in Chile, following those implemented in 2015 and 2024. 

Effective date: 12-month period commencing on the first day of the third month following the law’s publication.

The provisions shown in color correspond to amendments approved by the Congress.