• Service: Tax, Global Transfer Pricing Services, International Tax
  • Type: Regulatory update
  • Date: 6/9/2014

Chile - Transfer pricing declaration is due end of June 

June 9:  An annual transfer pricing declaration (information return) is due in Chile by the last business day of June.

Transfer pricing declaration

The rules in Chile relating to transfer prices for cross-border transactions were revised in September 2012.

Also, with the 2012 tax reform, there is a new requirement for certain taxpayers (for example, those with income above a certain threshold amount for the prior two tax years) to file an annual statement—Declaración Jurada 1907 de Precios de Transferencia—for purposes of reporting certain information about their related-party transactions.

Declaración Jurada 1907 is an annual return, to be filed by the last business day of June of each year, with respect to the taxpayer’s related-party transactions during the previous year.

Taxpayers may obtain a one-time extension, of up to three months, to filing the declaration or form 1907.

A failure to file, or filing a late or incomplete transfer pricing declaration on form 1907, can result in a penalty assessment.

In making a transfer pricing declaration, the taxpayer must also be able to support the arm’s length price declaration with appropriate information. Recent reports indicate that taxpayers have been receiving requests from the tax authority for a copy of their transfer pricing studies.

Read a 2014 report (Spanish) [PDF 1 MB] prepared by the KPMG member firm in Chile: Declaración Jurada Anual De Precios De Transferencia, El Riesgo De Errar O Incumplir

Contact a tax professional with KPMG's Global Transfer Pricing Services.

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