Wednesday, 9 March 2016

Chilean IRS seeks to strengthen its tax audit tools by requiring a new affidavit aligned with BEPS

The current tax and transfer pricing environment is going through one of its greatest dynamic periods in recent history. As part of these changes, the Organisation for Economic Co-operation and Development (OECD) recently published the final documents related to the Base Erosion and Profit Shifting (BEPS) project. Aligned with some of these global changes and in accordance with its tax audit strategy, the Chilean Internal Revenue Service (IRS) recently increased its formal requirements for Chilean taxpayers.
Specifically, on December 24, 2015, through Resolution No. 110, the Chilean IRS established an obligation to submit an Annual Return of Global Tax Characterization (affidavit F.1913).  In addition, the Chilean IRS published on December 31, 2015 its Supplement to the Income Tax Returns for 2016, which included additional specifications.
Source & more info: PwC