SII opens public consultation on seven circulars under the Reconstruction Act

Chile’s Internal Revenue Service (SII) has opened public consultation on seven draft circulars setting out instructions for measures under Act No. 21,850 on National Reconstruction and Economic and Social Development. The consultation remains open until 17 November for six drafts and until 18 November for the draft concerning amendments to the Tax Code.

What changes. The topics include a temporary 50% reduction in gift tax, a temporary VAT exemption for new homes, the special DFL 2 regime, the removal of the single tax on capital gains, the progressive reduction in corporate income tax and requirements for exporters applying for cessation of activities. Rules are also proposed for information requests to State bodies.

What to review. Although the circulars are still drafts, they anticipate how the SII will apply these rules. Businesses, individuals undertaking estate planning, real-estate investors and exporters should now assess whether the measures may affect their 2026 and 2027 decisions. The consultation is also an opportunity to identify operational questions before final publication.