Application of maximum conventional interest rate for foreign currency transactions: new Supreme Court criterion
November 20, 2023 | By Mauricio Halpern and Natalia Cox On September 25, 2023, the Supreme Court made a decision to accept the appeal on the merits, which revoked the judgment of January 2019 that was published by the 25th Civil Court of Santiago. The court had earlier rejected the claim made by Sociedad Agrícola Austral Berries Limitada against Banco Santander-Chile […]
Read moreLegal Alert: Six Important Standards for the Implementation of the Digital Transformation Act
August 22, 2023 | By Diego Peña, Carla Illanes and Felipe Massardo On August 17, 2023, six technical standards corresponding to the Act of Digital Transformation of the State (LTDE), established by Supreme Decree No. 4 (2020), issued by the Ministry General Secretariat of the Presidency (MINSEGPRES), were published in the Official Gazette. The technical standards were created by Interinstitutional […]
Read moreLegal Alert: New Mining Royalty Act
August 16, 2023 | By Amory Heine, Diego Peña, Francisco Argüello, Jerónimo Zabala, and Agustín Buzeta On August 10, Act 21.591 on Mining Royalty was published in the Official Gazette. The Act establishes the creation of a new Mining Royalty in Chile, which replaces the current Specific Tax on Mining. The Act has several key aspects, including: 1. The creation […]
Read moreLegal Alert: Chilean Competition Court resolves consultation initiated by Socofar
July 11, 2023 | By Marco Salgado, Sofía O’Ryan, Juan Cristóbal Ríos On July 7, the Chilean Competition Court (“TDLC”) published its resolution regarding a consultation carried out by Socofar S.A. on the differential treatment granted by pharmaceutical laboratories to their public and private clients, and its possible conflict with fair competition rules, filed two years ago. The TDLC’s resolution […]
Read moreLegal Alert: US Senate Approves Tax Treaty with Chile
June 23, 2023 | By Amory Heine, Francisco Argüello, Agustín Buzeta, and Matthew Appel On June 22, 2023, the United States Senate approved the Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion With Respect to Taxes on Income and Capital (“DTA”) between Chile and the United States (“U.S.“). When this DTA comes into force, there […]
Read moreLegal Alert: Chile takes first steps towards regulation of Artificial Intelligence
June 16, 2023 | By Matías Zegers, Jorge Timmermann, and Carla Illanes The Chilean parliament has begun to discuss a Bill aimed at incorporating legal and ethical issues into the creation, distribution, commercialization, and use of artificial intelligence (AI). It also attempts to ensure a balance that guarantees the protection of citizens’ fundamental rights without unduly hindering or preventing development of and […]
Read moreLegal Alert: Important amendments to the Act on criminal liability of legal entities
May 30, 2023 | By Mauricio Halpern, Andrea de la Vega, and Cristóbal de la Maza On May 15, Congress passed a Bill that formalizes economic crimes and environmental offenses and adjusts the penalties applicable. Of particular interest among the laws modified by the Bill is Act 20.393, which establishes the criminal liability of legal entities, and undergoes four major changes: […]
Read moreLegal Alert: Chile’s Bill on personal data protection: what comes ahead?
May 18, 2023 | By Matías Zegers, Carla Illanes, Juan Cristóbal Ríos, and José Tomás Musalem Last Monday, May 8, the Personal Data Protection Bill (“the Bill”) concluded its discussion in the Chamber of Deputies and was submitted back to the Senate, where it was originally filed. Considering the prompt processing of the Bill over the past few months, it […]
Read moreLegal Alert: Publication of the Act that reduces the workweek to 40 hours
April 26th, 2023 | By Luis Parada and Iñaki Irisarri On April 26th, 2023, Act No. 21,561 was published in the Official Gazette, which progressively reduces the workweek to 40 hours, among other important changes. With the publication of the Act, the reduction of the workweek will take place on the following dates: Progressive Reduction of the Workweek Period […]
Read moreLegal Alert: New National Lithium Strategy in Chile
April, 24 | By Diego Peña and Camila Fajardo Even though there are only two companies extracting lithium in only one out of the almost 60 existing salt flats in the country, Chile is the world’s second-largest lithium producer after Australia. As Chile holds approximately 42% of the global proven reserves of this metal, knowing the actual Chilean Government’s strategy […]
Read more
