• Temporary, one-time 50% reduction of the gift tax, applied on a per-donor basis, aimed at encouraging early donations or estate planning.
• The judicial authorization requirement (insinuación judicial) is waived; donations must be executed by means of a public deed signed within 1 year as from December 1, 2026.
• In addition, the donor must file an affidavit certifying compliance with the requirements. This affidavit must be filed with the Chilean IRS within the term and in the manner established by the Chilean IRS by resolution.
• Only potential recipients of the statutory share (legítima) -that is, the donor’s mandatory heirs, such as children or spouse- and of the betterment quarter (cuarta de mejoras) -persons whom the donor may specifically benefit within their family circle- may benefit from this regime, in the proportion freely determined. Donations to third parties will not be entitled to the reduction, unless the donor has no such heirs at the time of the donation.
  
  In no case may the value of the donated assets exceed 50% of the donor’s total net worth. For these purposes, it must be demonstrated that the donor holds assets whose value is at least twice the value of the donated assets.
• For purposes of calculating credits against future inheritance taxes, the tax amount that would have applied without the 50% reduction will be deemed paid; that is, it may be credited at 100% against the inheritance tax.
• For purposes of this donation, donations made by the same donor in favor of the same donee prior to the date of publication of the law shall not be aggregated.
• Gifts between spouses made under this regime will be deemed irrevocable and will therefore be subject to this tax.
• The donee may finance the gift tax through loans granted by public deed or promissory notes authorized before a notary, granted by the companies whose equity interests or shares are donated or by other related companies, without triggering the penalty tax established in Article 21 of the Income Tax Law. The above applies provided that the loans are denominated in UF and have a term of 10 years or less. Interest paid on debts incurred to finance such loans will not be deductible as a tax expense.
• If the donee disposes of the donated asset within 3 years from the date of the public deed, the tax cost of such assets will be the lower of: (i) the donor’s tax cost at the time of the donation; and (ii) the general tax cost that would correspond to the donee.

Effective date: 1-year period as from December 1, 2026.