26 Aug 2016
Chile Unveils New Procedures to Consider Advance Pricing Agreements Between Related Parties
The Chilean government has established new procedures for parties wishing to enter into an advance pricing, value or profit agreement with a related party for the importation of goods into Chile. An application together with any supporting documentation must be submitted to the Internal Tax Service, which will forward a copy to the National Customs Service. The two agencies will independently review the application in accordance with their own procedures and may either accept, partially accept or reject the request. A decision must be made within six months from the date the Internal Tax Service certifies that the application contains all required information.