chilean tax structure - TTN Transnational Taxation Network

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INCENTIVE PROGRAMS • Area Specific Incentives • Various financial incentives are available to promote productive investment and services and strengthen the creation of new labour sources in isolated regions, such as Arica, Arauco, Valparaiso, Austral Zone, Chiloe, Palerna, Tierra del Fuego, Tocopilla. • A shared financing scheme also exists between the regional government of Bío Bío, the Ministry of Economy and the Chilean Economic Development Agency (CORFO) in support of innovative projects. • 7. Creation of Business Incubators Program • Co-financing up to 70% of total required for the creation of Business Incubators that strengthen entrepreneurship and the creation of new businesses in Chile. Foreign investors must be linked to universities, technological entities dependent on universities, professional institutions or Technical Centres to access this funding. • 8. Incentives in the Mining Industry • Certain tax benefits accrue to exporting companies. i.e. reimbursement of VAT paid on acquisitions of goods and services destined to the production of exported goods; reimbursement of specific tax paid upon fuel and reimbursement of additional tax paid on technical consulting abroad. • 9. Science and Technology National Commission (FONDEF) • Technological funds to strengthen impulse and co-finance national and multi-national R&D and technology innovation projects that generate a high social and economic impact in Chile. • 10. Investment Platform Law (Law N° 19.840) • Investment vehicles in Chile are not subject to Chilean tax on earnings generated in third countries, but are able to tap into the advantages and opportunities that Chile offers as a platform from which to channel and manage these investments. • 11. Network of Free Trade Agreements, Double Taxation Agreements and Bilateral Investment Treaties. 1 8 Recent tax developments in Chile May, 2007
DIFFICULTIES FOR FOREIGN INVESTORS • LABOR FLEXIBILITY • BUREAUCRACY • CORRUPTION • SKILLED LABOR FORCE • ENGLISH • INTELLECTUAL PROPERTY • LACK OF COORDINATION: LABOR DEPARTMENT 1 9 Recent tax developments in Chile May, 2007
Page 1 and 2: Recent Tax Developments in Chile an
Page 3 and 4: ECONOMIC HIGHLIGHTS • Early econo
Page 5 and 6: VERY COMPETITIVE World Competitiven
Page 7 and 8: NOT GROWING ENOUGH GDP GROWTH OF 4.
Page 9 and 10: NOT GROWING ENOUGH “The main comp
Page 11 and 12: DFI DOWN 1 1 Recent tax development
Page 13 and 14: IMPORTANCE OF FDI • FDI IS IMPORT
Page 15 and 16: STRONG GOVERNMENT REACTION • GOVE
Page 17: INCENTIVE PROGRAMS • FOREIGN INVE
Page 21 and 22: CASE OF IRELAND • IDA Ireland Bus
Page 23 and 24: CASE OF IRELAND • Ireland - A you
Page 25 and 26: CHILEAN TAX TAX STRUCTURE STRUCTURE
Page 27 and 28: CHILEAN TAX TAX STRUCTURE STRUCTURE
Page 29 and 30: MODERN INSTITUTIONS - SII 2 9 Recen
Page 31 and 32: MODERN INSTITUTIONS - SII 3 1 Recen
Page 33 and 34: DOUBLE TAXATION AGREEMENTS 3 3 Rece
Page 35 and 36: INVESTMENT PLATFORM LAW( problems)
Page 37 and 38: USE OF TRUSTS IN CHILE • COMMON L
Page 39: Recemt Tax Developments in Chile an

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