In Exempt Resolution No. 30 of 6 March 2025, the Chilean Tax Authorities provide an updated list of jurisdictions deemed as tax havens for Chilean tax purposes. This development follows changes introduced in October 2024 under tax compliance bill Law No. 21,713. (For background, see EY Global Tax Alert, Chile enacts comprehensive tax compliance bill, dated 25 October 2024).

The new law simplified the requirements to qualify as a tax-haven regimen. As a result, the tax-haven list includes significantly fewer jurisdictions, with 46 countries removed and only 4 new countries added. Among the jurisdictions excluded from latest list are the Bahamas, Bermuda, British Virgin Islands, Cayman Islands, Costa Rica, Curaçao, El Salvador, Hong Kong, Malaysia, Qatar, Serbia, Thailand, the United Arab Emirates and Vietnam.

"Preferential tax regimes" are defined as those that: (i) have not entered into an agreement with Chile that allows for the exchange of information, or have limitations that prevent effective exchange of information, or (ii) are not considered, by the Global Forum on Transparency and Exchange of Information for Tax Purposes, to be compliant or substantially compliant in terms of transparency or exchange of information.

Jurisdictions included in this list will be deemed tax havens as of 1 January 2025. In general, tax-haven jurisdictions are subject to stricter regulatory requirements, which may have significant tax implications, such as for tax reporting obligations, indirect transfer rules, transfer pricing rules, thin capitalization, controlled foreign corporations, and higher withholding taxes for services and royalties.