martes, 17 de enero de 2017

Chilean IRS issues new regulations on Country-by-Country reporting

On December 27, 2016, the Chilean Internal Revenue Service (IRS) published Resolution No. 126, establishing the obligation to submit a new Annual Transfer Pricing Return (Form No. 1937) in reference to the Country-by-Country (CbC) report.

The resolution maintains the group consolidated turnover threshold of EUR 750 million proposed by the Organisation for Economic Co-operation and Development (OECD) and includes standard administrative penalties for failing to file the new annual informative return, filing late, or filing with incorrect/incomplete information. It also refers to the Annual Transfer Pricing Return (Form 1907) for filing.

Chilean IRS Resolution No. 126 aligns with Action 13 of the Base Erosion and Profit Shifting (BEPS) Action Plan adopted by the OECD and G20 countries, and follows the guidance set out by the OECD.

Source & more info: PwC

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