- Law No. 21,713, published on October 24, 2024, introduces significant changes to Chile’s VAT system, particularly affecting the importation of goods, with the goal of enhancing tax compliance.
- The law abolishes the VAT exemption for imported goods valued under USD 41 and establishes that tangible goods purchased remotely and valued up to USD 500 will be considered located in Chile for tax purposes, making them subject to VAT for non-VAT taxpayers.
- While imports under USD 500 will be exempt from additional customs duties, those exceeding this amount will be subject to standard VAT and customs regulations; these changes will take effect 12 months after the law’s publication, with specific provisions starting on November 1, 2024.
Source Comarch
See also
- E-Invoicing/Real Time Reporting – What can you find on VATupdate.com
- Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
- Collection of E-Invoicing Guides – Worldwide – VATupdate
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
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