- The Chilean IRS clarified VAT rules for renewable energy accreditation charges and penalties.
- Electric companies must prove 10% of annual energy withdrawals are offset by non-conventional renewable energy (NCRE).
- Companies must buy NCRE and issue electronic invoices for this taxable service.
- Penalties for not meeting the 10% requirement are 0.4 UTM/MWh (or 0.6 UTM/MWh for repeat offenses within three years).
- These penalties are not subject to VAT.
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.
Latest Posts in "Chile"
- 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
- Chile Clarifies VAT Documentation Rules for Foreign Purchases and Online Marketplace Transactions
