5 Major Developments in Chile

5 Major Developments

• New regulation establishing to certain taxpayers filling requirements for invoices used for sales of cigarettes
• Chile Moves To Enforce Digital VAT Regime
• Chile DTE e-invoice update
• Chile urges compliance with digital service rules
• Ruling: Tax treatment applicable to forward contracts and payment of carbon credits

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Authorities

• Chile Tax Agency Clarifies VAT on Payment Collection, Dispersion Services

Carbon Credits

• Ruling: Tax treatment applicable to forward contracts and payment of carbon credits

E-Commerce

• Chile urges compliance with digital service rules

E-Invoice

• Chile DTE e-invoice update

• VAT digital services B2C non-residents update

• Sovos acquires TOC Biometrics and strengthens its biometric identity verification and electronic signature capabilities

Deduction

• Newly created SMEs will be eligible for a special VAT credit for the first twelve months

Invoice

• New regulation establishing to certain taxpayers filling requirements for invoices used for sales of cigarettes

• Chile Tax Agency Clarifies VAT Documentation, Declaration Requirements for Telephone Recharges, Prepayments Involving Intermediaries

Digital VAT

• Chile Moves To Enforce Digital VAT Regime

Withholding Tax

• IRS announces new VAT withholding obligations for intermediaries

Refund

• Chile’s Congress to discuss tax reform proposal

Real Estate

• Construction companies may deduct 0.325 from the VAT determined for general construction contracts signed with beneficiaries of housing subsidies

Sales of Foreign Currency

• New regulation establishing requirements for DTE used for purchase and sales of foreign currency