Invoicing in Chile is changing on 1 December 2022. This is when resolution 66 from the Chile Internal Revenue Service comes into force.
This new regulation concerns organisations with foreign currency operations. Banks, stockbrokers, exchange houses and financial institutions are affected. Other intermediaries or entities that carry out foreign currency purchase and sale operations themselves or on behalf of third parties are also included.
All these organisations must issue the following:
Every electronic tax document must consider the specifications described by “Electronic Tax Document Format”. This document is available on the Internal Revenue Service’s website and is regularly updated.
Resolution 66 also contains technical instructions. These establish the details necessary for electronic tax documents that support foreign currency purchase and sale operations.
The resolution states the following must be included:
There are other requirements not listed above, so it’s important to check the guidelines.
This change allows the Internal Revenue Service to receive, validate, and process electronic tax documents. This ensures the operations are accurately reflected and prevents inconsistencies.
In the case of commissions, the taxpayer must issue an invoice or electronic ticket containing all the information indicated by the Technical Annex.
If the document doesn’t include an affected item, consider the following:
An example is when there is no commission.
Likewise, when differences in collections and values are subject to VAT, an electronic credit or debit note must be issued.
The following information must be recorded separately as well:
Are you in financial services or working at a bank with more questions about invoicing in Chile? Speak to our tax experts.