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Chile – Brutal Tax proposals impacting multinational entities

On 8 November 2019, the Chilean government reached an agreement with the Senate’s Finance Commission to strengthen the government’s social agenda. The three principles of such agreement are:1. To increase tax revenues to fund the Government’s social agenda. 2. To assist the aged population 3. To support SMEs from a tax perspective.  This agreement will probably also result in amendments to the original Tax Modernisation Bill submitted by the Government months ago, while other…

Foreigners can retire Income Tax Free in Chile

Retire Income Tax Free in Chile! Chile does not impose income tax on foreign pensions or social security of foreigners with residency in Chile. This is in addition to other tax benefits for all new residents of Chile, such as the three year foreign income tax exemption or any dual tax treaties that may exist between Chile and other countries. No income tax on Foreign Pensions and Social Security in Chile! One of the greatest benefits of retiring in Chile even if you are not really near retirement age is the…
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