• A tax invariability regime is established for local and foreign investors who make investments of USD $50 million or more in mining, industrial, forestry, energy, infrastructure, telecommunications, research, technological development, medical or scientific projects.
• The term of the regime will be 10, 15 or 20 years, depending on the amount of the investment:
  • 10 years: investments ≥ USD $50 million.
  • 15 years: investments ≥ USD $100 million.
  • 20 years: investments ≥ USD $350 million.
• To access the regime, the Corporate Income Tax rate set forth in the contract will be increased by 1.5% (stability premium) with respect to income attributable to the investments subject to invariability.
• The regime operates through the execution of a contract between the Ministry of Finance and the investor, subject to a prior report from the Foreign Investment Promotion Agency.
• A total effective income tax burden is guaranteed, equivalent to that applicable under the regulations in force on the date the contract is executed.
• The invariability period is counted from the commencement of operations of the project, that is, from the fiscal year in which gross income from the project’s main line of business is received or accrued.
• The resolutions, administrative interpretations and circulars of the Chilean IRS in force on the date of the contract regarding asset depreciation regimes, loss carryforwards and organization and start-up expenses will remain invariable.
• The VAT and customs duties regime applicable to the import of machinery and equipment qualifying as capital goods may be kept invariable for the period required to carry out the investment.
• For mining projects, additional rights are established in connection with the Mining Royalty, exploration and exploitation patents and new taxes on mining activities.
• The investor may, on a one-time basis, waive tax invariability and join the general regime.
• Related party debt, under the terms of Article 41 F of the Income Tax Law, may not exceed a 3:1 debt-to-tax-equity ratio of the company. Failure to comply with this limit results in the loss of invariability.
• Tax invariability is lost upon conviction by a final and non-appealable judgment for a tax offense or under the General Anti-Avoidance Rules.

Effective date: January 1, 2027.