Chamber of Deputies approved indications to the bill that reduces or eliminates exemptions and incorporated annual wealth tax
On December 21st, 2021, , the Executive presented a bill that reduces or eliminates tax exemptions in order to finance the Universal Guaranteed Pension ("PGU"), proposing in general terms to eliminate exemptions, such as those established for the highest amounts obtained for the sale on the stock market of certain instruments with a stock market presence, the special credit to construction companies, the limitation of tax benefits related to affordable housing DFL2, the non-rental income for the sums received by beneficiaries of life insurance and adding VAT to the provision of services. As a result, a group of deputies made a series of...
Opinion article on Domicile and Tax Residence
Diario Financiero publishes today the opinion column of our Tax associate, Lucas Ortega, on the effects of the acquisition and loss of tax domicile that the Chilean IRS regulated at the end of 2021 with circular 63/2021. To read the column, here.
IRS facilitates tax compliance for financial instruments abroad
Yesterday, December 28th, 2021, the Internal Revenue Service published extraordinary Official Letter 3748/2021, through which it simplifies, for natural persons, the determination of the tax result obtained in the sale of financial instruments located outside of Chile,...
DF newspaper highlights Fischer y Cia’s Tax Reform 2022 web page
It is expected that one of the first projects that will enter Congress together with the start of the new Gabriel Boric government will be the tax reform that, among others, will seek to establish a wealth tax, modify exemptions, contributions to real estate and combat tax...
Bill that reduces or eliminates tax exemptions
Governments enters bill that reduces or eliminate tax exemptions Last Tuesday, December 21st 2021, the Executive submitted to the Chamber of Deputies a bill (the “Project”) by means of which the modification of various tax regulations is sought. The objective of the Project is...
Fischer y Cía. advises on the sale of Bebesit to Merama
Merama Holdings LLC., which has just become a new “unicorn” after closing an investment round that raised its valuation to US $ 1,200 million, closed on December 10th 2021 the acquisition of a majority stake of Sociedad Comercial e Industrial Stroller SpA , company that owns...
Gabriel Boric’s Presidential Program: Hints for the 2022 Tax Reform
On Sunday, December 19th 2021, Gabriel Boric was elected President of Chile for the period 2022-2026. Although there are various definitions that will be known as the days go by, the processing of a tax reform and the measures for economic reactivation are some of the pillars...
Boric vs. Kast: Presidential proposals comparison
This Sunday, December 19th, 2021, the second round for the election of President in Chile will take place. Both candidates, Gabriel Boric and José Antonio Kast, improved their government programs, adding and correcting the proposals looking forward to their future leadership of...
Obligation of the Electronic Compensation Book: From October 2021
The Electronic Compensation Book (hereinafter, “LRE”) was created by means of Opinion 877/006 of March 10th, 2021, in which replaces the obligation to physically keep the compensation book in an electronic format from March 2021. Now, this replacement was voluntary until the...
NCG 461: Changes to the structure and content of Annual Reports
On November 12, the Commission for the Financial Market (CMF for its initials in Spanish) published General Regulation No. 461, which repeals regulations and modifies the structure and content of the annual reports of securities issuers. In order to provide better visibility on...
Exemptions and Life Insurance
The Commercial Code defines “life insurance” (article 588) as the contract by which “the insurer undertakes, in accordance with the modality and limits established in the contract, to pay a sum of money to the contracting party or to the beneficiaries, if the insured dies or...