On Friday, July 11, Law No. 21.755 was published, temporarily reducing the Corporate Tax rate for companies under the Pro-Pyme Regime established in letter D) of Article 14 of the Income Tax Law.
The new rate will be 12.5% for income received or accrued by these taxpayers during the fiscal years 2025, 2026, and 2027, and 15% for income received or accrued in 2028. This is conditional on the employer contribution established in Law No. 21.735—which creates a new mixed pension system and social insurance in the contributory pillar—reaching, at the end of each year, 1%, 3.5%, 4.25%, and 5%, respectively.
Additionally, the monthly provisional payments that Pro-Pyme taxpayers must make will be reduced by half during 2025, 2026, and 2027.
Research & Development (R&D)
Law No. 21.755 also extended by 10 years the deadline for submitting certification requests for contracts and projects to CORFO in order to access the benefits provided under Law No. 20.241, which establishes a tax incentive for investment in research and development (R&D Law). Therefore, taxpayers may submit their documentation until December 31, 2035. It is worth noting that the R&D Law allows corporate taxpayers to deduct, as a credit against their corporate tax, the equivalent of 35% of total payments made under duly certified R&D contracts by CORFO.
For further information on this matter, please contact Rafael Valdivieso Ruiz-Tagle (rvaldivieso@jdf.cl), Martín Hudson (mhudson@jdf.cl) o Nicolás Donoso (ndonoso@jdf.cl).
