Reconstruction Law: What It Contains and Which Decisions It Opens for Your Company

On 21 July 2026 the Chamber of Deputies ratified almost the entire text approved by the Senate. What remains before publication is procedural, but it controls the timing of every deadline in the law.

• One article remains before a joint committee: the fiscal compensation to municipalities for the property-tax exemption and the transfer to the Treasury of the collection of overdue municipal licenses and waste fees. No core matter of the reform depends on it.
• Challenges were filed before the Constitutional Court against the tax invariability regime and part of the environmental-permits chapter. The constitutional organic provisions also go through mandatory preventive review.
• Publication in the Official Gazette has no set date: it may take weeks or a few months. The time-limited windows have not been challenged, and the risk of losing them is assessed as low at this date.
• Every window is triggered by publication, not by approval. The current period is therefore for preparing decisions: quantifying, valuing and modeling, so that the deadline runs against a plan and not against a blank page.

Those deadlines matter because the heart of the package for owners is three one-time opportunities.

Alongside the windows, the law changes the permanent tax burden of the general regime.

The corporate tax of the general regime (article 14 A) falls in three steps, with provisional monthly payments adjusting in parallel. The SME regime of article 14 D does not change.

The credit is assigned by the year the profit was generated, not the year it is withdrawn. Profits accumulated through the close of 2026 keep the current rules even if withdrawn years later, and the law orders them consumed first. Waiting therefore improves future profits, not the historical stock: for the stock, the tool is the 10% substitute tax. From 1 January 2027, capital gains on shares with stock-market presence also leave the single 10% tax and return to non-taxable income status, and a new credit rewards exporters of knowledge-based services.

The detail of the schedule, the credit mechanics and what to model before deciding in 2026 are covered in the corporate tax cut page.

The law does not stop at taxes: it also rewrites rules that touch daily operations.

1. Payment to suppliers in 30 days

   Invoices must be paid within a maximum of 30 days unless the parties agree otherwise; a clause setting a longer term has no effect, and default interest runs from day 30. In public procurement the exceptional term falls from 60 to 45 days and formal acceptance must occur within 8 calendar days.

2. Ban on interest over interest

   Agreeing interest on interest is prohibited; amounts capitalized in breach of the rule cannot be enforced against the debtor.

3. SENCE training credit falls to 0,7%

   The training credit falls from 1% to 0,7% of payroll, with an employer co-payment scaled to the worker's pay: coverage of up to 80% for wages up to 25 UTM, 50% between 25 and 50 UTM, and 15% above 50 UTM. The co-payment cannot be passed on to the worker.

4. Old debt data must be erased

   Commercial registries must erase unpaid or extinguished debts of individuals older than 5 years, and any credit denial must be justified in writing. The rule does not cover companies as debtors, but every company that consults or reports delinquency data must adjust its processes.

5. Municipal debt relief

   Municipal debts (licenses, fees, waste charges of the 3 years before 2026) qualify for full relief of interest and fines, on request within 12 months. Note the limit: the parallel Treasury program for national taxes (180-day relief) applies only to individuals and smaller companies.

Just as important as what the law contains is what it dropped along the way or still hangs on a court ruling.

• Universal childcare was removed from the text: the approved law contains no such obligation or benefit.
• The tax invariability regime for investments of USD 50 million or more exists in the approved text, but it was challenged before the Constitutional Court. Until the Court rules, it cannot be treated as a secured benefit and no investment decision should rest on it.
• The reform of permits and environmental assessment, itself partly challenged, is a chapter of its own and will be covered separately.

The questions below gather the doubts that come up most often when a company and its owners review the package.

Informational content, updated as of July 2026. It does not constitute legal advice for a specific case.