According to tax audit strategy of Chile, the Internal Revenue Service (IRS) has improved its formal requirements for Chilean taxpayers. On 24th December 2015, the IRS established an obligation to submit an affidavit F.1913 (Annual Return of Global Tax Characterization) through Resolution No. 110. Additionally, supplement to the Income Tax returns for 2016 (includes additional specifications) has been published by the Chilean IRS on 31st December 2015. The new affidavit provides qualitative information on processes or transactions that are relevant for purposes of characterizing large taxpayers. Some of the information is intended to carry transparency with respect to the activities of economic groups in different jurisdictions, by raising specific questions about corporate and tax reorganizations and complex financial transactions, among others. On 27th January 2016, Chile signed an exchange information agreement with 34 countries to share the Country-by-Country Report.
UK: Regulations on Country by Country Reporting
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