In a context of significant changes in the economic, tax, and accounting landscape, we launch this first newsletter with the aim of providing technical, clear, and timely analysis on matters that may have a direct impact on the management, compliance, and decision-making of companies and organizations.
On the one hand, following the recent election of José Antonio Kast as President of the Republic, his government program is beginning to take shape as a roadmap for future public policies. In tax matters, the proposals aim to promote economic growth, facilitate compliance with tax obligations—especially for small and medium-sized enterprises—and advance toward significant structural reforms, such as reducing the First Category Tax, reintegrating the tax system, and the gradual elimination of the Property Tax. In this edition, our senior lawyer, Andrés López, analyzes the main pillars of these measures and their potential implications for taxpayers and businesses.
IFRS 18: The new standard transforming the presentation of financial statements
Additionally, our Audit Managing Partner, Carlos Barahona, addresses one of the key upcoming changes in accounting: the issuance of IFRS 18, Presentation and Disclosure in Financial Statements, which will replace IAS 1 starting January 1, 2027. This new standard introduces significant changes in the structure and presentation of the income statement, the disclosure of management-defined performance measures, and the criteria for aggregation and disaggregation of financial information, with the aim of improving the transparency and comparability of financial statements.
Although its application will be mandatory in the medium term, IFRS 18 requires comparative information, making it essential for entities to begin assessing its impact now, considering the adjustments needed in the structure and presentation of their financial statements, the definition of financial performance measures, and potential changes in information systems and internal reporting processes.
With this newsletter, we aim to provide a technical and practical perspective on these key topics, supporting our clients and readers in anticipating the risks, opportunities, and challenges posed by the new regulatory environment.