CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Strong Uptake For Chilean Tax Amnesty

Strong Uptake For Chilean Tax Amnesty

by Mike Godfrey, Tax-News.com, Washington

25 August 2016


Chile's Internal Revenue Service waived tax penalties and interest for a total of 123,128 taxpayers during the first half of this year, as part of a tax amnesty scheme.

The rules of the amnesty regime were set out in Circular 50 of 2016, available on the tax authority's website.

The amnesty is an opportunity for delinquent taxpayers to admit tax violations and to correct underpayments. 91 percent of taxpayers who made declarations were micro-, small-, or medium-sized businesses. Micro businesses accounted for more than half of reports.

The total value of penalties and interest waived was CLP41.5bn (USD62.3m), while the tax authority collected extra tax revenues worth CLP160bn.

TAGS: tax | business | value added tax (VAT) | Chile | interest | tax authority | micro business | penalties | Tax

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »