Chile Gazettes Law Amending Tax Code to Ensure Compliance with Tax Obligations

The Chilean Official Gazette Oct. 24 published Law No. 21,713, amending the tax code to ensure compliance with obligations within the Pact for Economic Growth, Social Progress, and Fiscal Responsibility. The law includes measures: 1) amending definitions under the general anti-abuse rule (GAAR); 2) specifying that reports, with respect to GAAR, may describe tax avoidance to the extent that the legal acts or transactions generated a tax base reduction equal to or greater than 1,000 monthly tax units, as well as to the extent that a tax benefit was accessed or a special tax regime was entered into; and 3) ...