Stamp Tax must be declared and paid online
March 15, 2024 | By Amory Heine and José Ignacio Basualto As of March 1, 2024, Stamp Tax (“ITE“) can only be declared and paid through the Internal Revenue Service (“SII”) website. This measure aligns with the SII’s objective of becoming a paperless institution, meaning many procedures are now managed online. The ITE is a documentary tax since, as a […]
Read moreNew Chilean Fintech Regulation by the CMF
January 19, 2024 | ByJorge Timmermann and Natalia Cox As part of implementing the Fintech Act, the Financial Market Commission (CMF) issued General Regulations 502 and 503 on January 12, 2024, which imply substantial changes for financial service providers regarding registration and accreditation, respectively. Regulation 502 replaces NCG N°493 and N°494 to regulate the registration, authorization, and obligations of […]
Read moreLegal Alert: National Economic Prosecutor’s Office publishes its preliminary Report on the Accommodation Market
December 29, 2023 | By Sofía O’Ryan and Bárbara Galetovic On December 28, 2023, the National Economic Prosecutor’s Office (“FNE”) published its preliminary Report on the Accommodation Market (“Report”), focused on platforms and short-term rentals (“STRs”). This Report is part of a process that started in March this year and is now in a process for public consultation until January […]
Read moreLegal Alert: Entry into force of Double Taxation Avoidance Treaty between Chile and the United States
December 20, 2023 | By Amory Heine, Francisco Argüello and Benjamín Echeverría On December 19, 2023, the United States notified Chile that it has completed the procedures for the entry into force of the Double Taxation Avoidance Treaty (“DTT”) between Chile and the United States. With this notification, the ratification procedures in Chile and the United States have been completed, […]
Read moreLegal Alert: The National Economic Prosecutor will prioritize scrutiny of the labor market in 2024
December 20, 2023 | By Sofía O’Ryan The National Economic Prosecutor, Jorge Grunberg, announced during the Competition Day event held on December 19 that in 2024, the focus of the watchdog will be on the labor market. The event is organized annually by the National Economic Prosecutor’s Office (FNE). In his speech at the event, the Prosecutor emphasized the […]
Read moreLegal Alert: Five essential aspects of the future Cybersecurity and Critical Information Infrastructure Framework Act
December 13, 2023 | By Jorge Timmermann and Carla Illanes. On December 12, 2023, the Senate approved and dispatched the Bill on Cybersecurity and Critical Information Infrastructure to the Constitutional Court for its passage into law. The regulation will apply to institutions that provide services qualified by the National Cybersecurity Agency (ANCI) as essential (ES) or vital operators (VO). All […]
Read moreApplication of maximum conventional interest rate for foreign currency transactions: new Supreme Court criterion
November 20, 2023 | By Mauricio Halpern and Natalia Cox On September 25, 2023, the Supreme Court made a decision to accept the appeal on the merits, which revoked the judgment of January 2019 that was published by the 25th Civil Court of Santiago. The court had earlier rejected the claim made by Sociedad Agrícola Austral Berries Limitada against Banco Santander-Chile […]
Read moreLegal Alert: Six Important Standards for the Implementation of the Digital Transformation Act
August 22, 2023 | By Diego Peña, Carla Illanes and Felipe Massardo On August 17, 2023, six technical standards corresponding to the Act of Digital Transformation of the State (LTDE), established by Supreme Decree No. 4 (2020), issued by the Ministry General Secretariat of the Presidency (MINSEGPRES), were published in the Official Gazette. The technical standards were created by Interinstitutional […]
Read moreLegal Alert: New Mining Royalty Act
August 16, 2023 | By Amory Heine, Diego Peña, Francisco Argüello, Jerónimo Zabala, and Agustín Buzeta On August 10, Act 21.591 on Mining Royalty was published in the Official Gazette. The Act establishes the creation of a new Mining Royalty in Chile, which replaces the current Specific Tax on Mining. The Act has several key aspects, including: 1. The creation […]
Read moreLegal Alert: Chilean Competition Court resolves consultation initiated by Socofar
July 11, 2023 | By Marco Salgado, Sofía O’Ryan, Juan Cristóbal Ríos On July 7, the Chilean Competition Court (“TDLC”) published its resolution regarding a consultation carried out by Socofar S.A. on the differential treatment granted by pharmaceutical laboratories to their public and private clients, and its possible conflict with fair competition rules, filed two years ago. The TDLC’s resolution […]
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