LatinNews Daily - 12 October 2026

*Chile’s President José Antonio Kast has promulgated his mega economic reform, known as the ‘reconstruction and economic and social development’ bill. In a social media post, Kast stated that “Chile continues progressing on urgent matters, even in the midst of an emergency”. This was a reference to the heavy rains that have hit parts of the country’s capital, Santiago, in recent days, prompting authorities to declare a state of catastrophe. The government reportedly cancelled the official ceremony for the signing of the reform due to the emergency over the rains. Kast stated that the reform would bring “hope to families in Biobío, Ñuble, and Valparaíso” regions, due to measures to repair damage caused by fires, “as well as legal certainty and more investment and jobs for the entire country”. At the heart of the reform is a reduction in corporation tax from 27% to 23%, as well as other tax reforms and measures to boost formal employment and streamline investment. Parts of his original reform were struck down by the constitutional court, following appeals from opposition legislators.

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