130 countries – including Chile – signed a declaration yesterday to implement new international tax rules aimed at addressing the fiscal challenges arising from the increasing digitalization of economies.

This plan, which is expected to be implemented in 2023, establishes two pillars intended to ensure that multinational enterprises pay a reasonable share of taxes in the countries where they operate. The first pillar sets parameters for allocating profits among the various jurisdictions in which a company operates, while the second introduces a global minimum corporate tax rate (15%).

The declaration establishes that only companies with revenues exceeding 20 billion euros (US$24 billion) will be subject to the new profit‑allocation rules. However, it was agreed that the threshold will be reviewed after seven years, with the intention of reducing it to 10 billion euros.

The final outcome of these negotiations will be known in October of this year, once the technical work required to implement the two pillars is completed.

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