The Chilean Government authorized micro, small and medium-sized companies to defer the total Value Added Tax (VAT) for Import operations that were verified in the months of April, May and June 2020, through Resolution 1559.
The National Customs Service regulations implement one of the exceptional and temporary tools that is part of Supreme Decree No. 420 of the Ministry of Finance, which established tax measures to support micro, small and medium-sized enterprises in the difficulties generated by the spread of Covid-19.
The resolution details the conditions that companies that want to qualify for the benefit must meet, including, for example, being micro, small or medium-sized companies whose annual income is between 75.000 and 350.000 Unidades de Fomento.
In addition to establishing the requirements, Resolution 1.559 also indicates that the Internal Revenue Service will be responsible for informing Customs of those taxpayers who are eligible to defer VAT payments.
It will also determine, depending on their classification, whether taxpayers will be able to defer their payments in 6 or 12 installments.
The National Director of Customs, José Ignacio Palma, indicated that “It is a direct benefit for one of the segments most affected by the Covid-19 pandemic″
"Along with announcing it, we inform all the importers who benefit from it that our systems are now enabled to receive their declarations deferring the payment of VAT."He added.
The National Director added that all the Service's virtual support channels are available to resolve taxpayers' concerns regarding this and a dozen measures implemented by the Service in recent weeks in order to facilitate foreign trade.
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
