This new legislation modernizes the administration of the tax system and improves its efficiency.
Last November 13, Law No. 21.716 was published in the Official Gazette, which modifies Law No. 21.713 on Tax Compliance, extending the terms of three of the transitory articles of the reform.
It is important to remember that this new law contemplates important tax benefits for taxpayers, among them:
- Repatriation of capital: window to declare assets abroad will begin to operate on November 1 until December 31, 2024.
- Early termination of tax lawsuits: 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 will be in force until December 31, 2024.
- Condonation of interests and fines and agreements in 48 installments by TGR: rule in force until March 21, 2025.
From #azTributario, we will keep you informed about all the news related to the Tax Compliance Law, helping you to understand its main implications for individuals and companies.
We also share some recommendations provided by our director of the Tax Group, Andrea Bobadilla (See here).
For further questions about the application of this new regulation, please contact our tax team:
Rodrigo Albagli | Partner | ralbagli@az.cl
Álvaro Rosenblut | Partner | arosenblut@az.cl
Andrea Bobadilla | Tax Group Director | abobadilla@az.cl
Valentina Herrera | Associate | vherrera@az.clc
Javiera Melo | Associate | jmelo@az.cl
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