• A tax invariability mechanism is established for 25 years for local and foreign investors who make investments of at least USD 50 million in mining, industrial, forestry, energy, infrastructure, telecommunications, research, technological development, medical or scientific projects, among others.
• The regime operates through the execution of a contract with the State of Chile and may be extended to related projects, that is, projects that are part of the same economic unit of operation due to physical proximity, shared use of infrastructure, or functional interdependence, subject to prior application to the competent authority and notice to the Ministry of Finance within 30 business days following the start of operations of the related project.
• If any regulatory change or administrative interpretation more favorable to the investor arises, the investor may apply it without such application constituting a waiver of the tax invariability regime.
• Foreign investors:
  • The contract must be executed with the Director of the Foreign Investment Promotion Agency through a public deed.
  • A total effective tax burden of 35% is guaranteed, excluding the Mining Royalty, if applicable.
  • The invariability period is 25 years starting from the start of operations of the company, i.e., from the moment gross income attributable to the project’s line of business is received or accrued.
  • Invariability applies to asset depreciation regimes, loss carryforwards, and organization and start-up expenses.
  • The VAT and customs duties regime applicable to the importation of machinery and equipment may be kept unchanged for the period required to carry out the investment.
  • The investor may, on a one-time basis, waive tax invariability and enter the general tax regime.
  • In the case of mining projects, additional rights are established in relation to the Royalty, exploration and exploitation patents, and new taxes applicable to mining activity.
• Local investors:
  • They are subject to the same requirements and terms as foreign investors.
  • The contract must be executed with the Undersecretary of the Ministry of Finance.
  • The maximum effective tax burden shall be equivalent to that applicable under the legislation in force on the date of execution of the investment contract.
  • Invariability is established with respect to the rules governing Corporate Income Tax, Personal Income Tax, and VAT.

Effective date: January 1st, 2027, or as from the entry into force of the law, if this occurs on a later date.