- 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.
Latest Posts in "Chile"
- SII Files Lawsuit for $400 Million VAT Fraud Using Fake Invoices Against Calama Rental Company
- Chile Sets New Rules for Invoices and E-Transport Documents for Movable Goods Transfers
- Tax Authority Confirms VAT Exemption for Public Contract Transfers to Related Entities
- Tax Authority Rules Instalment Payment Advances for Credit Assignment Exempt from VAT
- VAT Taxpayers Barred from Issuing Invoices to Cover Undeclared VAT on International Purchases
