COLA - Cost of Living Allowance for Expats living in Chile
The index is based on the differences in prices and purchasing power between US Standard City Index to La Serena goods and service index.
The index is then applied to gross salary taking into account escaped taxes of 25% and that of the salary remaining 65% is applied to consuming goods and services. This net salary is then applied to the COLA index to arrive at the COLA amount.
The COLA payment will fluctuate according to changes in the index, but will be capped at 10% of salary.
The index is reviewed periodically by AURA Human Resources.
2023: Due to the ongoing high exchange rate and costs of goods and services index, the COLA isn’t currently being paid out to expat employees living in Chile.