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October 2, 2020

Chile's tax authorities amend reporting obligations for indirect transfers

The Resolution requires all parties to an indirect transfer to report it to the tax authorities and expands the types of transactions the parties have to report.

On September 28, 2020, the Chilean tax authorities (CTA) issued Resolution Ex. No. 119 of 2020, amending rules on reporting indirect transfers of Chilean entities and assets. The Resolution will be effective January 1, 2021.

Disclosure exemption eliminated

Currently, the instructions for reporting indirect transfers exempt acquirers and the Chilean companies subject to the transfers from the reporting requirement if the transferors report the transactions. The Resolution eliminates the exemption and requires all parties involved in the indirect transfer to report the indirect transfer to the CTA by filing Form 1921.

Transactions that must be reported expanded

Currently, only transactions that reach certain materiality thresholds contained in the Chilean indirect transfer rules need to be reported. The Resolution expands the transactions that the parties to the transfer must disclose, including all transfers of foreign entities that involve the indirect transfer of Chilean underlying assets.


Contact Information
For additional information concerning this Alert, please contact:
EY Chile, Santiago
   • Felipe Espina (
   • Juan Pablo Navarrete (
   • Victor Fenner (
   • Janice Stein (
Ernst & Young LLP (United States), Latin American Business Center, New York
   • Pablo Wejcman (
   • Mariela Gonzalez (
   • Ana Mingramm (
   • Enrique Perez Grovas (