Chile Seeks Feedback on Tax Amnesty, Luxury Assets Reporting

Chile’s tax authority is seeking comment on a proposed tax amnesty for undeclared assets held offshore and separate changes to a tax on luxury assets.

Both proposals will include changes introduced in Chile’s recently adopted law on tax compliance, which was published in the official gazette last week.

• The tax amnesty proposal would offer a temporary opportunity to pay a flat 12% rate on any undeclared assets, the tax authority said in a release published Friday. Changes to the luxury assets tax would include exemptions and new reporting obligations.
• Chile’s government has also beefed up penalties for tax crimes, ...