Government submits bill establishing tax measures linked to the Emergency Plan for Revenue Protection and Economic and Employment Reactivation July 6, 2020 With the purpose of promoting the country's economic recovery, the last June 25 a bill with the new tax measures announced a few weeks ago by the government was introduced in the Congress ...
On February 12, 2022, the Regulation of Law No. 21,325 on Migration and Foreigners (the “Regulation”) was published in the Official Gazette. In turn, Law No. 21,325 on Migration and Foreigners (the “New Law”) was enacted and published in the Official Gazette on April 20, 2021, however its entry into force was subject to the publication of the Regulation. In view of the foregoing, the provisions of the New Law came into force last February 12 ...
On March 3, 2023, the Court of Appeal of Santiago granted a constitutional petition for protection (“recurso de protección”) filed by a bookstore chain against the Municipality of Santiago for not adopting adequate and effective measures to prevent the installation of street vending in Ahumada Street ...
On November 15, 2019, a broad group of Congresspersons from a broad political spectrum came to the agreement of initiating a process for eventually replacing the Chilean current Constitution with a New Constitution, as a reaction to the social demonstrations that had taken place during the previous weeks ...
On March 17th, 2021, through the publication of General Ruling No. 96/2021 in the Official Gazette, the National Institute of Industrial Property (“INAPI”) provided new instructions in relation to the filing and payment of renewal applications of trademark registrations in Chile, applying the regulations set forth in the Trademark Law Treaty (“TLT”), which was ratified by Chile and is in force since 2012. By virtue of General Ruling No ...
The Chilean Institute of Industrial Property (INAPI) has recently announced the possibility to apply to a program for fast-tracking patent’s and utility model’s applications, provided that said applications relate to technical solutions capable of impacting the environment positively ...
The National Institute of Industrial Property (INAPI) recently issued Notice No. 524, which provides that it will be possible to enter simple (scanned) digital copies of powers of attorney, without requiring the original document or an electronic document with an advanced electronic signature, thus making it possible to continue the processing of applications for registration, renewals, recordals, among others, during the quarantine period produced by Covid-19 ...
Internal investigations are an integral part of organizational management, with the objective of determining the occurrence of wrongdoing, misconduct, or non-compliance within the company. Through these internal investigations, companies can wield their disciplinary powers, identify risks, design measures to control them, enhance the internal compliance culture, and mitigate the liability of the organization and/or its management ...
On Monday, June 26, 2023, the International Sustainability Standards Board (ISSB) issued the first two global sustainability standards: IFRS S1, General Requirements for Disclosure of Sustainability-related Financial Information, and IFRS S2, Climate-related Disclosures. These standards are intended to improve confidence in the sustainability disclosures made by companies to guide investment decisions ...
Executive Summary On February 5th, 2016, Law N° 20,897 was published in the Official Gazette incorporating 3 new paragraphs into article 34 bis of the Electric Power Services General Law (“LGSE”). By virtue of this modification, article 34 bis of the LGSE, widens its protection to any developer of non conventional renewable energy projects (“NCRE”). This article was originally intended exclusively for electric concessionaires ...
On January 4, 2021, law No. 21, 299, which allows the postponement of mortgage loans installments and sets a state guaranty to guarantee the so postponed installments was published in the Official Gazette (the “New Law”) ...
On January 26, 2023, Law 21,536 was published in the Official Gazette, thus enacting it as law of the Republic. Law 21,536 postpones the entry into force of the amendments introduced to the Mining Code by Article 10 of Law 21,420. The effective date of Law 21,536 is the same as its publication ...
On July the 27th 2016, Law No. 20.936 that establishes New Power Transmission Systems and creates an Independent Coordinating Body for the National Power System (the “Transmission Law” or “New Law”) was published. Its stated objectives are to ensure that transmission does not become an obstacle to power generation, increase competition in the electrical market and boost the development of non-conventional renewable energies ...
On February 23, 2017, Law N°21,000 (the “Law”) was published in the Official Gazette of Chile, creating the Commission for the Financial Market (the “Commission”), a professional body and technical entity that will replace the current Superintendency of Securities and Insurance (“ SVS “). The Law will enter into force in August 2018, or at an earlier date if the Commission becomes operational sooner ...
On June 20th., it was published Law N°21.240, bill which was approved last Wednesday 17th by the Congress. The New Law increases sanctions for the infringement of quarantines and sets forth responsibility for Employees and Legal Entities. Article 318 of the Criminal Code punishes anyone who “jeopardizes public health by the infringement of hygienic and sanitary norms properly published by the authority, in the context of a catastrophe, pandemic or contagion ...
On June 17, 2021, Law 21,348 (hereinafter, the " Law ") was published in the Official Gazette, the purpose of which is to legally guide the powers of the President of the Republic (hereinafter, the " President ") regarding the state of constitutional exception of catastrophe due to public calamity, in order to guarantee, in situations of pandemic, health crisis and natural disasters, the access and availability in sufficient quantities of water to the affected population ...
Law No 20,590 (the “Law”), that authorizes the issuance and operation of pre-funded payment methods or any other similar system (the “Prepaid Cards”), by non-banking entities, when these systems involve that the issuer or the operator regularly engages in monetary obligations with the general public or to specific sectors or groups thereof, was published and came in force on October 29, 2016 ...
On January 4, 2023, Law No. 21,521, also known as the "Fintech Law", was published. The new law promotes competition and financial inclusion through innovation and technology in the provision of financial services. Among other amendments, the Fintech Law introduced certain amendments related to the public offering of securities, amending Law No. 18,045, the Securities Market Law ("LMV"), Law No. 18,046, the Corporations Law ("LSA") and the Commercial Code ...
On September 8th, 2016, Law No. 20,940 was published. The law is aimed at the “Modernization of Labor Relations” (hereinafter the “Labor Reform” or the “Law”). The aim of the Labor Reform is to develop labor relations that are more modern, fair and balanced between the parties, and promote dialogue and agreement ...
On October 26th, 2016, Law No. 20,950, otherwise known as the “Law to Boost Productivity” (the “Law”), was published in the Official Gazette, introducing various modifications to different laws and regulations in order to enhance the country’s productivity through the expansion of the financial system and the promotion of the exportation of services. Main measures for the expansion of the financial system: Several legal provisions of Law Decree No ...
Law No. 21,121 (the “Law”), which came into force on November 20, 2018, amends the Criminal Code, Law No. 20,393 on Criminal Liability of Legal Entities, and Law No. 19,913 on Money Laundering, in connection with various criminal conducts relating to corruption and conflicts of interest. The following is a summary of the main aspects of the Law: 1.Domestic Passive and Active Bribery ...
On April 6, 2020, Law No. 21,227 entered into effect, authorizing access to the benefits of the unemployment insurance in the context of the sanitary crisis caused by Covid-19 (hereinafter, the “Law on Employment Protection” or “LEP”). In order to improve the practical application and implementation of the aforementioned act, on June 1, 2020, Law No ...
On June 3, 2020, the President of the Republic enacted the law that governs the financial portability, which was published in the Diario Oficial today, June 9, 2020 (the “Law”), whose main provisions can be summarized as follows: I. Scope The Law sets an inalienable right to the financial portability for the “Clients”, i.e ...
On June 24, Law No. 21,242 was published, establishing a transitional benefit for certain independent professionals consisting in the possibility of obtaining cash benefits for 3 months, continuously or discontinued, within the next 6 months. This benefit must be subsequently returned to the Treasury in 3 annual installments of 20%, 40% and 40% of the amount received ...
