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Chile: Abatement of interest and penalties for certain taxpayers

Chile: Abatement of interest and penalties

A resolution provides relief from interest and penalties relating to tax debts.

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Resolución N°1047 (released by the Treasury Department (Tesorería General de la República) and published in the official gazette on 26 September 2019) allows taxpayers in certain instances to obtain forgiveness of up to 85% of interest and penalties related to their tax debts when settlement is made with a cash payment. Taxpayers resolving their tax debts under an installment payment agreement may obtain forgiveness of up to 65% of tax-related interest and penalties.

The resolution generally applies with respect to tax debts before 31 July 2019. The interest and penalty relief under the resolution is applicable until 31 December 2019.

Taxpayers also have the currently available option to seek abatement of interest and penalties directly from the tax authority (Servicio de Impuestos Internos).

Read a September 2019 report (Spanish) prepared by the KPMG member firm in Chile

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