The Treasury presented a bill to extend deadlines for benefits established by the Tax Compliance Law.
This past Thursday, October 24, Law No. 21.713 on Tax Compliance was published, which seeks to improve the efficiency of the tax system and modernize its administration.
This new regulation contemplates important tax benefits for taxpayers, among them:
- Repatriation of capital: Window for declaring assets abroad will begin to operate on November 1 until November 30 of the same month.
- Early termination of tax lawsuits, remission of interest and fines and agreements in 48 installments by the TGR: It allows the termination of legal proceedings initiated before January 1 and that are still pending at the date of entry into force of the law, with respect to claims for tax drafts or tax assessments filed with the TTA. This rule is in force until November 30.
However, the Ministry of Finance sent last Monday, October 28, the proposed law to extend these deadlines until December 31 of this year.
On the other hand, the Internal Revenue Service (SII) issued two resolutions that address these issues (N°103 and N°104), setting the format and instructions to apply for both benefits.
Check the resolutions in the following links:
For more information on the application of this new norm, we recommend to consult our tax group:
Rodrigo Albagli | Partner | ralbagli@az.cl
Álvaro Rosenblut | Partner | arosenblut@az.cl
Andrea Bobadilla | Director Tax Group | abobadilla@az.cl
Valentina Herrera | Associate | vherrera@az.cl
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