CHL Tax Law 21.713 Revised Tax Duties


On Oct. 25, CHL Tax on various modifications made by Law 21.713.


  • CHL Tax issued Circular 45 concerning amendments to tax obligations pursuant to Law 21.713, which are organized in Circular 45 in table form with the effectiveness dates.
  • Law 21.713 to ensure tax compliance published in official gazette on Oct. 24, 2024.
  • CHL FIU issued a press release informing on requirements under the new law.
  • Highlights
  • Law 21.713 establishes rules, requirements to ensure compliance with tax obligations within the pact for economic growth, social progress and fiscal responsibility.
  • Among main things, the new law introduces a voluntary and extraordinary system for declaring assets or income located abroad, subject to a single, substitute tax of 12%.
  • With exception of countries or jurisdictions classified as high risk or non-cooperative in the prevention and fight against money laundering and financing of terrorism by FATF.
  • The new Law was built on seven pillars: modernization of the tax administration and Tax and Customs Courts, combating informality, combating tax crimes and evasion.
  • Strengthening taxpayer ombudsman, settling tax debts and strengthening institutions.
  • The above, with the aim of collecting, in regime, USD 4.5 billion annually, equivalent to 1.5% of the GDP, by combating evasion, informality, illicit trade and organized crime.
  • Among its scope are improvements to governance of Internal Revenue Service (SII).
  • Strengthen CHL Tax SSI through creation and Executive Committee and a Tax Council.
  • Information Sharing
  • By filing of tax return or declaration, taxpayers authorize CHL Tax, CHL FIU and any other State institution with jurisdiction to request specific information from banks.
  • Banks with information on the income or assets included in the tax declaration.
  • Said banks must deliver it without further formalities than what was requested.
  • All the aforementioned institutions may exchange said information among themselves.
  • CHL Tax must report to the CHL FIU the operations it deems suspicious per Law 19.913
  • The CHL FIU, upon request, will have permanent and direct access for the proper fulfillment of its legal functions, to all information collected by the public institutions.
  • Information regarding assets and income abroad declared by taxpayers, without restrictions of any kind, including if it is subject to secrecy or confidentiality.
  • CHL Tax must implement controls on the identification of taxpayers who join system.
  • The aforementioned controls must satisfy the standards established by the FATF.
  • CHL CB will provide the information requested by CHL FIU or Public Prosecutor's Office.
  • Effectiveness
  • Amendments without a specific effectiveness date come into force on first day of the month after the date of the Law's publication in the official gazette, i.e., Nov. 1, 2024.

Regulators CHL CB; CHL FIU; CHL Tax
Entity Types Auditor; Bank; Corp
Reference Cir 45, 299422.2024 GE, 10/25/2024; OG CVE 2561825, Law 21.713, 10/24/2024
Functions Accounting; AML; Financial; Fraud; Privacy; Reporting; Tax; Treasury
Countries Chile; Cross-Border
Category
State
Products Banking; Corporate; Equity
Regions Am
Rule Type Final
Rule Date 10/25/2024
Effective Date 11/1/2024
Rule Id 231251
Linked to N/A
Reg. Last Update 10/25/2024
Report Section International

Last substantive update on 10/29/2024