A brief delivered by the government to representatives of political parties proposes that “on a one-time basis, the possibility will be analyzed to regularize, subject to payment to the Treasury, situations of tax non-compliance related to capital held abroad, stamp taxes, and inheritances.” The Minister of Finance, Mario Marcel, without providing further details, stated that “it is part of what is being considered in the tax compliance bill.”
Read the full article in La Tercera-Pulso.
At the end of last week, the government shared with representatives of both ruling and opposition political parties certain tax aspects included in its Fiscal Pact proposal, aimed at combating evasion, avoidance, and providing incentives for formalization. This pillar includes 27 measures: eight are related to the modernization of the tax administration and the Tax and Customs Courts (TTA); eleven proposals relate to tax justice and equity; a bill to increase compliance with tax obligations, which will include rules to combat informality; six measures to strengthen the Taxpayer Defender’s Office (Dedecon); and an incentive to regularize situations of tax non-compliance, applicable only once and within a limited timeframe.
Regarding this last point, a brief delivered to political parties mentions that “on a one-time basis, the possibility will be analyzed to regularize, subject to payment to the Treasury, situations of tax non-compliance related to capital held abroad, stamp taxes, and inheritances.”
In response to this proposal, the Minister of Finance, Mario Marcel, was asked whether this measure is related to the repatriation of capital, a process that had already taken place during the 2014 tax reform under the second administration of President Michelle Bachelet. “I would prefer to comment on it once we have presented the details of these proposals to representatives of the political parties, but it is part of what is being considered in the tax compliance bill,” said the minister.
The perspective of tax experts
Most of the tax experts consulted by Pulso supported such an initiative, but added that it will depend on the rate applied and the timeframe considered.
Javiera Campos, Director of International Taxation at CCL Auditores Consultores, considers it, at first glance, a good alternative, “especially regarding capital held abroad, taking into account the massive capital outflows since 2019, which in the last three years have exceeded $30 billion. This would not only facilitate its return but also broaden the tax base and keep such amounts within the oversight of the SII.”