- Chilean Internal Revenue Service has opened a consultation on a draft circular for VAT exemption for cultural services provided by cultural associations
- The draft circular includes measures to define “cultural services” and provide criteria for cultural associations’ eligibility
- It also establishes types of cultural associations with specific conditions and emphasizes the predominance of personal work over capital for tax classification
- Taxation rules for cultural associations are outlined based on personal work and capital usage
- Documentation requirements, including electronic fees and invoices, are specified
- The measures would generally apply from Jan. 1, 2024
- Comments on the draft circular are due by Jan. 12, 2024.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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