- Chile’s Internal Revenue Service issued Resolution No. 83, creating a voluntary full VAT reverse charge regime for certain agricultural services.
- The regime shifts VAT liability to qualifying recipients for agricultural support, post-harvest, and related personnel supply services.
- Eligible agricultural businesses can apply to become withholding agents if they meet specified activity, ownership, revenue, capital, and tax compliance criteria.
- Withholding agents must issue purchase invoices and withhold, declare, and remit 100% of the VAT on covered transactions.
- The resolution also sets documentation, invoicing, and due diligence requirements.
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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