The Ministry of Finance (Chile) hosted the “Benefits of formalisation and financial inclusion” session in Temuco, led by Undersecretary of Finance Heidi Berner, aimed at entrepreneurs with a focus on rural and indigenous women and students. The presentation recapped recent legislative and policy initiatives on entrepreneurship and financial inclusion, including the reactivation of the Advisory Commission for Financial Inclusion (CAPIF), the Fintech law, measures on financial consumer protection and fraud, the National Financial Inclusion Strategy, and other recent reforms. Drawing on Chile’s Financial Capabilities Survey, Berner cited indicators of household financial strain and over-indebtedness, and argued that public policies targeting transparency, competition and over-indebtedness need to be complemented by better day-to-day financial management tools. She also highlighted gender-related barriers to women’s participation in the formal financial system and the need to adapt products and services accordingly. On the October 2024 Tax Obligations Compliance Law, she emphasised changes relevant to small and medium-sized enterprises (SMEs), including replacing the 1.5% monthly interest rate on tax debts with a daily rate set semi-annually based on financial market information, and creating preferential Treasury payment agreements available to SMEs on an ongoing basis with terms of up to 18 months, an initial payment capped at 5% of the debt, and forgiveness of interest and fines, alongside a simplified business closure process for SMEs.

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