• Service: Tax, Global Transfer Pricing Services
  • Type: Regulatory update
  • Date: 10/17/2013

Chile - Overview of transfer pricing rules 

October 17: There was an increase in transfer pricing audit activity in Chile during 2012, with the tax authorities’ requirements having been more specific and more directional, with an emphasis on reviewing taxpayers’ segmented financial results by type of transaction.

A substantive tax reform act enacted in September 2012 also included changes to the transfer pricing rules—changes that generally aimed at aligning Chilean transfer pricing rules with OECD Guidelines.

Currently, the rules in Chile more specifically describe accepted transfer pricing methods, incorporate business reorganization rules, and contemplate an advance pricing agreement (APA) procedure.

While a transfer pricing study is not mandatory per se, taxpayers are required to keep all documentation deemed necessary to support the arm’s length nature of intra-group transactions.

There is also a requirement to file an annual transfer pricing return.

Read a 2013 report [PDF 562 KB] prepared by the KPMG member firm in Chile, describing the transfer pricing rules in Chile (as of April 2013).

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

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