Chilean Deputies Pass Bill for Simplified Tax Regime for Open-Air Market Vendors

• Chilean Chamber of Deputies passed a bill amending Decree Law No. 825 of 1974
• Establishes a simplified tax regime for vendors in open-air markets
• Introduces a 1.5 percent VAT substitute tax for electronic payment sales
• Ensures combined tax and service commission does not exceed 3.5 percent
• Allows voluntary access to the regime by expressing interest in January or registering with the municipality
• Requires compliance with conditions or merchants will follow the general VAT regime
• Law effective three months after publication in the Official Gazette

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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