- Chile introduced a tax reform bill to impose VAT on sales of low-value goods
- Goods valued below US$500 imported from outside Chile and sold to consumers will be subject to VAT
- Nonresident sellers of low-value goods will be required to account for VAT for sales made to consumers
- Business customers will need to self-assess and remit the applicable VAT for B2B sales
- Marketplace/platform will be deemed as the seller of goods/services they facilitate
- Registration under the simplified VAT regime does not create a permanent establishment for income tax purposes
- Domestic credit card issuers may be required to withhold VAT on behalf of nonresident sellers who fail to register
Source: kpmg.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.
