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Chile: Changes to foreign tax residency allows taxpayers to benefit from DTTs internationaltaxreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from internationaltaxreview.com Daily Mail and Mail on Sunday newspapers.
Chile: Indirect transfer of assets and new withholding provisions internationaltaxreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from internationaltaxreview.com Daily Mail and Mail on Sunday newspapers.
Chile has a two-level integrated tax system On December 9 2020, the Chilean Internal Revenue Service (IRS) issued Resolution No. 151/2020, introducing regulations to validate tax residency certificates for applying tax treaty benefits or the full corporate income tax (CIT) credit scenario for dividend distributions tax (DDT) (treaty scenario). The resolution also provides for guidelines as to how transparent/flow-through entities should be treated in a dividend distribution tax treaty context, being the first approach released in this regard. As a matter of background, Chile has a two-level integrated tax system under which, as a general rule, the tax paid at the corporate level (27%) is generally creditable against the 35% withholding tax rate applicable to actual distributions (cash basis). In principle, only 65% of the corporate-level tax is creditable against the 35% withholding tax, unless the shareholder is resident in a tax treaty jurisdiction and a beneficiary of d ....