- SII will apply control actions when cases of informality or tax underreporting are detected
- No control actions will be generated for transfers unrelated to the sale of products or services
- SII detailed the strategy for monitoring transfers from financial institutions
- Three cases can be detected: transfers unrelated to sales, informal sellers, and formalized individuals not meeting tax obligations
- SII will analyze information for transfers unrelated to sales, but no control actions will be taken
- Informal sellers will be contacted by SII to start formalization process
- Obligations for informal sellers include issuing tax documents, monthly VAT declaration, and annual income declaration
- Informal sellers must notify SII of any changes in information
- SII provides assistance for micro and small businesses to comply with tax obligations.
Source: sii.cl
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
