By Javiera Campos, Director of International Taxation at CCL Auditores Consultores
Dear Editor,
Unlike the capital repatriation process recently established under Law No. 21,713 (2024)—which collected only 15.4% of the expected revenue (USD 93 million), largely due to its limited two-month application period and a 12% tax rate—the current bill proposes substantially more competitive deadlines and rates.
By extending the application period to a full twelve months and reducing the tax rates to 10% as a general rule and 7% for capital repatriated and invested in Chile, the proposed legislation would address the shortcomings of the previous framework while providing the time and economic incentives necessary to facilitate information disclosure and achieve its revenue collection objectives.
As a result, the Government estimates that this regime could generate approximately USD 300 million in additional revenue. This projection appears reasonably conservative, considering that the 2015 capital repatriation program—which applied an 8% substitute one-time tax rate—generated more than USD 1.5 billion in tax revenues.