Chilean Congress approves new tax reform

On 25 September, the Chilean Congress approved a tax reform bill submitted by the Chilean Executive Branch which addresses tax evasion and avoidance and modernises the Chilean tax administration. The bill is now under review by the Chilean Constitutional Court, and when that process is completed, it will be ready for the President’s signature, publication in the Chilean Official Gazette and enactment as law. Multinational companies with operations or presence in Chile should assess whether the approved changes could impact their current or future structures and transactions.