Chile’s tax administration has issued several guidelines on December 18, 2013 for measuring income tax related to corporations and partnerships. These measures also include some treatments for employee benefits. Ley 20.630, which considered both corporations and partnerships taxable, came to action in 2012 and contains provisions related to flexible adjustments of their income tax treatment. SII issued Circular 45 as guideline for tax treatment for corporations and partnerships on September 2013.
Moreover, Chile’s social security administration issued Circular 2877 on October 2012 which made some changes regarding employee benefit plans controlled by certain agencies with a deadline set on December 31, 2013 for adjustments of plans for the taxpayers who are taking plans from these agencies.
