Chile

Chile

With a population of only 17 million Chile is one of the smallest LATAM countries. At the same time, it stands out in comparisons to its neighbors because of its particularly stable political, economic and social climate. Chile`s promising economic development is mostly based on its many international free trade agreements which practically enable a custom-free access to all markets worldwide. Furthermore, Chile is the first LATAM country which has an Association Agreement with the EU wherefore German companies can export their goods costum-free. The economic pillars of Chile are mining (due to the large copper deposits) as well as the agricultural sector. For both sectors modern technologies are needed which make Chile an attractive target country for companies dealing in sensorics, electronics, automatization, and energy efficiency.

 

e-Invoicing

Chile employs the e-Invoicing system since 2014 which obligates companies to generate and submit ten different document types: the Documentos Tributarios Electrónicos (DTE). These documents are being generated as a XML file that is being signed electronically before being send to the tax authority SII (Servicio de Impuestos Internos). More ...

Chile: Law establishes Bill Payment in thirty Days

In January 2019, a new law has been introduced which reduced the deadline to pay…

International Approaches to taxing the Digital Economy

New technologies fuel the trend of digitization and change the economy by: Decoupling it from…

Labor Reform in Chile

On May 2, 2019, the Chilean government announced the second draft labor reform to modernize…

Tax Reform in Chile

Chile is in the midst of modernizing its tax system. Based on the respective law,…

The Costs of doing Taxes in Latin America

In OECD countries, it takes a company 159 hours on average to do the taxes.…

Chile: Government presents the latest tax reform proposal

On April 9, 2019, President Sebastián Piñera presented the Finance Committee of the Chamber of…

New Legislation in Chile to Fight Corruption

On November 20th, 2018, the new Law 21,121 has been published in Chile introducing changes…

Chile: MFN Principle in International Contracts

According to the most favored nation (MFN) principle a state has to grant the same…

Chile: Tax Reform

Since 2019, there is a new tax reform in place in Chile which affects the…

LATAM: Economic Recovery 2019

At the end of the super election year it is worthwhile to look at the…