Chile’s Ministry of Finance released a statement on the first meeting of the High-Level Council for Strategic International Economic and Financial Policy, led by President Gabriel Boric.
The release noted that income tax reform plans, including a potential 2-3% cut to the corporate tax rate, which would be offset by imposing higher taxes on top earners, have been indefinitely postponed.
The minister confirmed that the income tax reform bill aimed at smaller companies will move forward as planned. Additionally, several initiatives targeting the tourism sector were announced, including the introduction of VAT refunds for foreign tourists. A new accommodation tax will also be introduced to promote international tourism.
Earlier, Chile’s Chamber of Deputies reviewed a proposal to temporarily reduce corporate tax rates for qualifying SMEs, which suggested a reduction of a 12.5% rate for 2025–2027 and a 15% for 2028.
