Internal Revenue Service confirms VAT on cryptocurrencies The Internal Revenue Service of Chile (SII) has confirmed the VAT liabilities on the trading of digital currencies such as bitcoin. Like many jurisdictions, trading of cryptocurrencies are treated as exempt from VAT. These digital currencies are considered an intangible.
VAT confirmed on subscriptions for digital journals by foreign providers The “Tesorería General de la República” has confirmed that Value Added Tax is due to be charged and collected by non-resident providers of the following subscription-based electronic services: Educational journals Consumer and news journals Aug 2022
Chile drops daily sales summary for e-invoicing From 1 August 2022, tax payers who must submit daily sales reporting will no longer be required relieved of the requirement. Instead, the tax authorities will rely on DTE (see below) to complete their electronic sales and purchase
When foreign provider is not VAT registered, credit or debit card issuers must withhold VAT From 1 August 2022, Chilian issuers of credit or debit cards must monitor payments for B2C digital services to non-resident providers. Where the provider is not VAT registered in Chile,
Right to claim delayed VAT payments as pandemic continues to disrupt The Chilean tax authorities, Internal Revenue, has provided a number of reliefs on Value Added Tax payments. These include the option to apply for two months’ payment delays on VAT remittances for small businesses.
Costs of ageing population forces broadening of VAT net Chile is to broaden the scope of services subject to its Value Added Tax regime from January 2023. This is one of a range of measures being introduced to meet the rising costs of the South
Chile introduced its 19% Value Added Tax on non-resident providers of digital services to consumers from 1 July 2020. This will require a VAT registration with the tax office, SII Commissioner, via a simplified process. There is no VAT registration threshold. Alternatively, payments made will
Global pioneer in electronic invoicing now being copied around the world Chile’s Servicio de Impuestos (SII) tax authority introduced its VAT electronic invoice regime in 2001, and mandated it for most taxpayers from March 2018. DTE (Documentos Tributarios Electrónicos) covers a total of ten various
Chile is planning to introduce more differentiated VAT rates to support its population during the ongoing COVID-19 emergency; meaning more categorisation of goods or services under the reduced VAT rates. Currently, most goods and services are subject to the standard Value Added Tax rate of
Chile has confirmed that software sold by non-resident providers to Chilean buyers is subject to Value Added Tax. Chile imposed 19% VAT on foreign sourced digital services in June 2020. This included downloaded software, gaming, online advertising etc. It did provide a simplified VAT registration
