- The Chilean IRS clarified VAT rules for the special construction company credit (CEEC) and urban housing development.
- Taxpayers can request the CEEC at 32.5% or 16.25% if certain housing-related requirements are met.
- The construction in question does not qualify for the VAT exemption for subsidized general construction contracts.
- VAT documentation must be issued for the construction, regardless of contract parties or social housing status.
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.
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