Chile

Individual - Significant developments

Last reviewed - 02 June 2020

On 29 January 2020, the Chilean Congress approved the so called 'Modernisation Tax Bill' after a year and a half of discussion. Regarding taxation of individuals, the major amendment introduced by the Tax Reform is the increase of the Global Complementary Tax and Employment Tax maximum rates from 35% to 40%, as of 1 January 2020.