Did you know Chile operates a single VAT rate (currently 19%) with very few alternatives or exemptions? Or that there are no set deadlines for audit, meaning tax inspectors can come knocking at any time?
If your business trades in or with Chile, it’s likely that you’ll need to apply and pay VAT in the country – including on digital services, which were incorporated into the VAT system in 2020.
But there are minimal opportunities for reclaiming VAT, so make sure you get your calculations spot on at the first time of asking.
Source Innovate Tax
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