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Treatment of transfer pricing in the Tax Compliance Management Plan 2022

In Chile, the SII (Servicio de Impuestos Internos - Internal Revenue Service) has published the PGCT (Plan de Gestión de Cumplimiento...
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In Chile, the SII (Servicio de Impuestos Internos – Internal Revenue Service) has published the PGCT (Plan de Gestión de Cumplimiento Tributario – Tax Compliance Management Plan), in which a set of actions linked to different segments such as multinationals and transfer pricing have been set out.

The goal is to collect $2,797 million from taxpayers within the target designed by the Tax Authority. This PGCT was developed based on the application of the Tax Compliance Management Model promoted by the SII.

In the area of transfer pricing, the purpose is to mitigate the risks associated with cross-border transactions between related entities performed outside of market values through control processes. It also determines a set of criteria for the timely application of transfer prices associated with anticipated agreements.

In 2021, 3994 taxpayers filed their respective tax returns, with operations amounting to $143.6 billion. In this sense, it is expected, concerning multinational companies, that they do not transfer tax benefits abroad through the reduction of the non-declaration of international operations and thus, ensure proper tax compliance.

Source: Diario Financiero 20/01/22

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