The corporate tax rate falls gradually from 27 to 23 percent by 2029. The corporate tax rate falls gradually from 27 to 23 percent by 2029. Chile’s Kast Tax Reform Passes: What Foreign Residents Must Know. Frequently Asked QuestionsWhat did Chile’s tax reform change? It cuts corporate tax from 27 to 23 percent by 2029 and exempts first homes of people over 65 from municipal property tax, among other measures.