Chile is well ahead of many of its Latin American neighbours, in
digitising its financial reporting systems. But its tax framework
needs a thorough understanding to avoid compliance penalties.
Although five countries in Latin America are among the top ten
most complex globally for accounting and tax compliance, Chile
scores reasonably well, thanks to its digital transformation of
finance processes.
The country ranks 35th out of 94 countries as assessed by TMF
Group in its annual
Financial Complexity Index 2018, down one place on the 2017
rankings but still well ahead of many of its regional neighbours,
who are in the early, complex stages of digitising their
systems.
Chile's current tax framework is competitive and highly
computerised, with well-established business procedures. However, a
change of government leadership at the end of last year could
prompt some changes to the tax regime administered by the Tax
Administration "Servicio de Impuestos Internos
