Committee to begin evaluating modifications to tax modernization bill next week
9 mayo 2019

CHILE

The Deputies Finance Committee is set to start its article-by-article analysis of the tax modernization bill (Exp. 12043) next week. Ahead of this, yesterday the Committee received a first set of proposed amendments from the Executive branch, and has granted itself a “reasonable period to analyze them”. Among the changes proposed by the Executive are reforms to the General Anti Tax-Evasion Norm and to the powers of the Internal Revenue Service (IRS).

The amendments were presented by Finance Minister, Felipe Larraín, who said they will help “simplify the tax system” and promote “investment from small and medium sized enterprises”. The minister explained that the amendments seek to “improve the legal certainty” of the country – by strengthening the General Anti Tax-Evasion Norm, conferring new powers to the IRS and through measures intended to further digitize communications between the IRS and taxpayers.

The committee accepted the Executive’s proposals, although it opted not to begin voting on them this week. On the contrary, the deputies agreed to give themselves a “reasonable” time for their review. This process would begin Wednesday next week. It should be noted that this is the first set of amendments submitted by the Executive to the opposition aimed at unblocking the passage of the bill. It is expected to issue further proposals in the coming weeks, notably around changes to digital services taxation.  

 

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