• 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 regimen operates through the execution of the contract between the Ministry of Finance and the local or foreign investor.
• 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 the commencement of operations of the project, 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 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 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.
• 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.
• Investment projects initiated between the date of President’s Message and the publication of the law, which satisfy such requirements, may access the same invariability regime by submitting an application to the Ministry of Finance within six (6) months following the publication of the law.

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

The inclusions in color correspond to amendments submitted to the original bill, as approved by the Chamber of Diputies.