- VAT Changes Implemented: Law No. 21,713, published on 24 October 2024, introduces significant changes to VAT regulations, particularly concerning imported goods and tax compliance measures.
- Removal of Exemption and New Tax Rules: The law eliminates the VAT exemption for imported goods valued under USD 41 and subjects sales of tangible goods worth up to USD 500 purchased remotely by non-VAT taxpayers to VAT, treating these items as located in Chile for tax purposes.
- Customs Duty Exemptions and Effective Dates: Imports valued under USD 500 will be exempt from additional customs duties, while goods above this threshold will follow standard VAT and customs rules. The amendments will take effect 12 months after publication, with certain provisions, like the customs duty exemption for imports under USD 500, starting from 1 November 2024.
Source Orbitax
