- Chile’s tax authority clarified how first-category taxpayers can get early VAT refunds on credits from fixed asset purchases.
- Under the pro-SME regime, companies may fully and immediately depreciate qualifying fixed assets in the year they are acquired or built, if paid and included in the fixed assets.
- The authority confirmed that immediate depreciation does not change an asset’s status as a fixed asset.
- Therefore, the early VAT refund mechanism can still apply if the legal requirements are met.
Source: globalvatcompliance.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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