What are the Accounting & Taxation Requirements in Chile?
Foreigners with residence or domiciled in Chile will only pay taxes on their Chilean source income during the first 3 years from their arrival in Chile. After this period, foreigners will be subject to income tax on their global income. Additionally, Chilean legislation also provides the possibility of an extension of this period in specific cases, nevertheless it is imperative that an extension request is filed with ample time to go through the approval process before the expiration of the time period. In order to obtain an extension, strong supporting documentation must be provided that clearly establishes that the person does not have the intention to permanently remain in Chile.
To help you audit your company properly in Chile and stay out of trouble when filing taxes, our senior accountant has put together a presentation with useful information regarding the country’s tax and accounting system. This Biz Latin Hub resource will be a useful tool for your business aspirations in Chile. For more information about our accounting and taxation services in Chile, please get in contact with our local team.
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