The rules in Chile regarding transfer pricing for cross-border transactions were revised in September 2012. By the 2012 tax reform, there is a new requirement for particular taxpayers (for example, those with income above a specific threshold amount for the previous two tax years) to file an annual statement or return naming “Declaración Jurada 1907 de Precios de Transferencia” by the last business day of June of each year, on the basis of the taxpayer’s related-party transactions during the previous year. For filing the declaration or form 1907, taxpayers may get a one-time extension, of up to three months. Failure to file, or late filing or incomplete transfer pricing declaration on form 1907 may causes penalty assessment.
Related Posts
Chile issues draft VAT guidance for nonresident sellers
Chile’s tax authority (SII) has released the draft Circular Letter 300079.2024GE, on 3 December 2024, clarifying VAT sourcing rules for remote services and new VAT obligations for remote sellers of goods to consumers. This follows after Chile
Read MoreChile clarifies luxury goods tax rules
The Chilean Tax Administration (SII) has released new guidance on the recent amendments to the luxury goods tax introduced under Article 5 of Law 21,713-2024. This guidance, outlined in Circular 50-2024, was published and came into effect on 28
Read MoreChile revises VAT registration, payment rules for non-resident service providers
Chile’s tax authority (SII) has recently issued Resolution No. 105 on 30 October 2024 and Resolution No. 107 on 14 November 2024. These resolutions update the previous regulations regarding VAT registration and payment for non-resident
Read MoreChile extends deadlines for tax regularisation, penalty relief
Chile enacted Law No. 21.716Â which extends the deadline for the Regularisation Regime for Foreign Assets and Income, allowing taxpayers to regularise undeclared foreign assets and income with a 12% tax, granting amnesty for any civil, criminal, or
Read MoreChile consults luxury goods tax amendments
Chile’s Tax Administration (Servicio de Impuestos Internos, SII) has launched a public consultation regarding a Draft Circular which proposes various amendments to the luxury goods tax. It outlines provisions regarding tax law amendments,
Read MoreChile details VAT representative process for foreign digital platforms
Chile’s Tax Administration (Servicio de Impuestos Internos, SII) has issued Resolution Ex. SII 101-2024 was published on 24 October 2024, outlining guidelines for digital platform companies not based in Chile regarding the appointment of a Chilean
Read More