- Chile is proposing to extend its VAT system to impose VAT on low-value consignments of goods being imported directly by consumers
- Currently, there is an Import VAT exemption threshold set at $500, allowing importers to purchase goods free of VAT from non-resident companies up to this value
- The proposal would remove this threshold and require non-resident providers to charge VAT to consumers at a rate of 19%
- This follows similar VAT measures introduced on supplies of digital supplies
- If introduced, there will be a simplified registration scheme with no VAT registration threshold for non-resident traders.
Source: fiscalsolutions.co.uk
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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