• A tax invariability regime 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 duration of the regime will be 10, 15 or 20 years, depending on the investment amount:
  • 10 years: investments ≥ USD 50 million
  • 15 years: investments ≥ USD 100 million
  • 20 years: investments ≥ USD 350 million.
• Taxpayers accessing the regime must pay a “stability premium” equivalent to an additional 1.5% on their applicable Corporate Income Tax rate during the invariability period.
• The regime operates through the execution of a contract between the Ministry of Finance and the investor, upon a prior report issued by the Foreign Investment Promotion Agency.
• A total effective income tax burden equivalent to that applicable under the regulations in force on the date the contract is executed is guaranteed. excluding the Mining Royalty and the specific mining tax, if applicable.
• The invariability period is 25 years starting from starts with the commencement of operations of the project, i.e., from the tax year in which gross income attributable to the project’s primary 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 that qualify as capital goods may be kept invariable for the period required to carry out the investment.
• In the case of mining projects, additional rights are established in relation to the Mining Royalty, exploration and exploitation patents, and new taxes applicable to mining activity.
• The regime 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 economic or functional interdependence., subject to prior application to the Ministry of Finance to be filed before making any effective investment directly linked to the related project.
• The investor may, on a one-time basis, waive tax invariability and enter the general tax regime.
• Debt may not exceed a 3:1 debt-to-tax-equity ratio, pursuant to Article 41 F of the Income Tax Law. Exceeding this limit will result in the loss of the tax invariability regime.
• The tax invariability regime is lost if the taxpayer is convicted by a final and non-appealable judgment of a tax offense or under the General Anti-Avoidance Rules.

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

The provisions shown in color correspond to amendments approved by the Congress or derived from the Constitutional Court`s ruling.