New regulations on commissions in money credit operations
This week the Commission for the Financial Market ("CMF") issued General Rule No. 484 that sets the requirements that must be met by commissions charged in money credit operations in order to not be considered as interest, in accordance with the provisions in Law No. 18,010 on Money Credit Operations (hereinafter, the “NCG”). Pursuant to Law No. 18,010, interest is any sum received or entitled to receive by the creditor over and above the capital or readjusted capital, depending on whether they are non-adjustable or readjustable credit operations. On the other hand, Law No. 21,314 of 2021, which establishes new transparency requirements and...
New legal guidelines for influencers
Given the relevance that native advertising and influencers have acquired, the National Consumer Service (“SERNAC”) supplemented the Interpretative Circular on advertising and commercial practices of February 2022 (exempt resolution number 176), through circular interpretation on native...
Law project that eliminates and prohibits the use of data related to unpaid debts
Yesterday, August 3rd, the bill that eliminates and prohibits the use of data related to unpaid debts as of April 30th, 2022, was approved by the Chamber of Deputies, moving to its second constitutional procedure before the Senate. The project, submitted for processing by...
RT2022: Alex Fischer boosts a long-lasting fiscal covenant
In today´s seminar, organized by Addwise, Alex Fischer highlighted the importance of Chile demonstrating structural tax stability. “Each government has presented its own tax reform, with emphasis on its government plan, and this has led to a change in the basic rules every four...
RT2022: Isabel Espinoza comments on the modifications on inheritances and donations taxes
Today in Diario Financiero newspaper, our partner, Isabel Espinoza points out that “the most relevant modification is related to the valuation of the assets that are part of the estate (or that are donated). In this regard, the Reform introduces a complex set of rules...
TR2022: Juan Cristóbal Ortega alerts about the effects on investment
Our partner, in Diario Financiero newspaper, comments on the possible effects of taxing retained earnings in investment companies and affirms that they “provide a good reason for the profits of a business to remain in Chile and not be remitted abroad, triggering taxes. This...
Gert Greve: Implications of the proposed new Constitution on the tax system
Our senior associate comments in Diario Financiero newspaper on the novelties that the draft of the new Constitution would incorporate in the tax fundamentals of Chile. To read it, here
New Constitution: Juan Cristóbal Ortega analyzes the principles of the proposed tax system
Our partner, Juan Cristóbal Ortega, argues in El Mercurio newspaper that although the classic constitutional principles regarding taxes are enshrined, the project incorporates concepts whose scope is not clear. A change in the way of conceiving the tax system is noticeable,...
Alex Fischer highlights the importance of the structuring the mining royalty
Today, our partner comments in Diario Financiero and La Segunda newspapers that "the most important thing for Chile is that the mining royalty be well structured." He assures that many details are missing that will be known when the text is published, but for now, it is...
Main focuses of the Tax Reform
Today the Executive informed the guidelines of the first part of the Tax Reform. In order to support the understanding and debate around the project, Fischer y Cía. has developed the web page www.reformatributaria2022.cl, which will be constantly updated. There you will find...
Alex Fischer analyzes the tax system under the new Constitution
According to our partner, in the proposal for the new Constitution, taxes sacrifice efficiency to meet specific objectives of economic policy, ceasing to be a promotion tool. Likewise, he ensures that it is based on concepts that lack doctrinal or jurisprudential basis, which creates a great margin of interpretative discretion that will generate uncertainty for at least a few years.