We have rich conversations with our clients every day, and increasingly these conversations are happening online. We encourage you to ask questions, share your views, and connect with like-minded professionals.
KPMG Capital focuses on investments and opportunities in the Data & Analytics space.
KPMG's Global IFRS Institute provides information and resources to help Board and Audit Committee Members, Executives, Management, Stakeholders and Government Representatives gain insight on the evolving global financial reporting framework.
KPMG’s global network of climate change and sustainability practices helps you build long-term value in a rapidly changing world.
Mining organizations need to adapt across the mining asset lifecycle, from expansion to closure, as changing economic, political and regulatory environment demand greater flexibility.
The Chemical industry’s landscape is changing fast - global companies are developing or launching new products and services – and appear optimistic - setting sights on geographic expansion.
KPMG explores the ways in which organizations are preventing, detecting, and responding to anti-money laundering compliance risks.
An extensive review of 2013 European bank regulation including the impact on bank structure, conduct and culture, data and reporting, and risk governance.
The global job search tool allows you to search available career opportunities within many of our 150 member firms worldwide.
KPMG's International Case Competition (KICC) is a chance for students to challenge yourself to solve a real business issue and an opportunity to meet new people across the globe.
My name is Rodrigo Stein. I am a tax partner at KPMG Chile, based in Santiago, in charge of corporate tax international.
Well, there is a lot of going on in Chile right now. The economy is very dynamic, a lot of growth, but at the same time there is a lot of social demands and pressure for the government to spend more. So that means more pressure and raising taxes and revenue.
Because of this pressure on increasing revenues, there have been tax reforms being proposed, and actually there has been a big change approved by congress a month ago, a little bit more than a month ago. But it’s been enacted and it’s becoming effective, you know, throughout these couple of months and starting next year as well.
There are several changes. There is for start, an increase in the corporate tax rate, from 17 percent to 20 percent. So that’s a big change. Also there have been minor tax reductions, moreover for benefitting individuals. But there is a big focus on tax, it is thought of tax arbitrage and proper tax planning strategies.
I think it is early to say, because it has been very recent and it’s been a very substantial change. So we are helping clients understand the stated implication of this tax reform, but also everyday we are seeing that more unintended things that are coming up and consequences that nobody thought about. So it’s been a lot of work. Complex, but the main thing is that it’s something that you have to worry about if you haven’t started thinking about it yet.
For start, increased compliance costs. For example one of the big changes is the introduction of more up-to-date transfer pricing rules that impose on the taxpayer a very big burden in terms of keeping appropriate documentation of all of their transactions with related parties. So if you are within a multinational group, that means you have to be very careful in having set up proper documentation, keeping that documentation, and also preparing the information that you will be required to share with the tax authorities.
In general, there is this feeling that there is going to always be more and more pressure on large multinationals, large companies, and wealthier individuals to pay more and more taxes, and to help, if you could say, the government fund social programs, public education, health, and that means there is more and more pressure on companies. So because there is a general perception that big companies and conglomerates and multinationals are not paying their fair share of taxes. And even though there is always room for more, it is important that companies and multinationals do a good job in showing that they are making a big contribution.
Rodrigo Stein, a Tax Partner with KPMG in Chile takes a close look at the latest tax issues and trends in Chile
KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.