Chilean ministers express moderate satisfaction after Constitutional Court ruling on tax reform

Chilean ministers expressed a mix of satisfaction and caution following a Constitutional Court ruling on their flagship tax reform. The court's decision, which addressed government requests concerning the "megareforma," saw both the ruling party and the opposition claiming victory.

Finance Minister Jorge Quiroz, a key proponent of the reform, stated he was "tremendously happy" with the outcome. He praised the court's "professional work" and emphasized that the ruling provides investors with clarity. "The most important news is that investors today know they have clear rules for the future, because tax invariability (remained) practically unchanged, except for very minor things," Quiroz said. He noted that only procedural amendments were approved.

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The most important news is that investors today know they have clear rules for the future, because tax invariability (remained) practically unchanged, except for very minor things.

Quiroz further explained that once the reform takes effect, "whoever comes to Chile to make a major investment, above 350 million dollars, will be able to count on rules..." This suggests the government views the ruling as a success in maintaining investor confidence, despite some modifications to the original proposal. The government's reaction, however, was not entirely uniform, indicating internal discussions about the implications of the court's decision.

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whoever comes to Chile to make a major investment, above 350 million dollars, will be able to count on rules...