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Chile: VAT, confirming and real estate transactions

Chile: VAT, confirming and real estate transactions

Among tax developments reported by KPMG member firm in Chile are the following:

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  • The tax authority (SII) issued new instructions with respect to filing a reposición administrativa voluntaria (RAV) request for an “independent” administrative review prior to filing a judicial action regarding settlements, drafts, and payments of tax.
  • The tax authority issued guidance (Oficio 1307 of 2018) regarding the value added tax (VAT) that applies to real estate leasing transactions.
  • The tax authority issued guidance (Oficio 1303 of 2018) to clarify that the use of a confirming Inmobiliario (real estate confirming contract similar to a factoring arrangement) does not constitute an “elusive” action.

 

Read a July 2018 report (Spanish) [PDF 293 KB] prepared by the KPMG member firm in Chile

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