The bill of Law amending the tax regulations has been approved by the Chilean Chamber of Representatives on September 10, 2014. Currently, the Congressional steps have been settled; the Chilean Government must publish the Bill of Law to enact it. If the law is published this year by assumption, then the major changes will become on interest deduction, general anti-avoidance rules, and new audit attributions. Major changes on new thin-capitalization rules and temporary corporate and final tax regime will become effective from January 2015, changes based on controlled foreign corporation rules and VAT on the sale of real state will become effective from January 2016, and lastly the changes based on new alternative corporate income tax and final taxes regimes will become effective from January 2017.
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