Ministry of Finance (Chile)

In 1814 the Secretary of Finance was created, as Supreme Director Bernardo O'Higgins sought to develop an administrative framework for the then newly formed nation, considering the need to ascertain its independence from the Spanish crown.

[1] The present structure, duties and attributions were defined by Presidential Decree N° 7912, "General Law of Ministries", on 30 November 1927.

[5] The structural balance nets out the effect of the economic cycle (including copper price volatility) on fiscal revenues and constrains expenditures to a correspondingly consistent level.

The PRF was created as a response to the expected increase in liabilities related to old-age pensions and benefits, especially for the poor,[6][10] and it had accumulated US$5.883 million (market value) by the end of 2012.

[13] The funds are managed by the Central Bank of Chile and a Financial Committee advises on their investment policy.

[14] The value added tax is levied on sales of goods and services (including imports) at a rate of 19%, with a few exemptions.

Income arising from corporate activity under the Global Complementary Tax only becomes payable when effectively distributed to the individual.