Updated Tax Haven list in the face of chilean regulations
On March 6th, the Internal Revenue Service (SII in Spanish), through the Exempt Resolution N° 30, announced the new list of territories and jurisdictions with a preferential tax regime, more commonly know as "Tax Havens", in accordance with the provisions of Article 41H of the Law on Income Tax.
What is the importance of a territory being considered a Tax Haven?
The existence of tax havens represents a significant challenge for Chilean tax legislation, since these low- or no-tax jurisdictions could facilitate tax avoidance and evasion, reducing the fiscal revenue and affecting the equity of the tax system. Given the above, various mechanisms have been developed to regulate and control any operations related to these territories, ensuring transparency and tax compliance.
