Transfer Pricing Adjustments
Santiago de Chile, March 1, 2023
We are close to the presentation of the Income Statement (Form 22) for Tax Year 2023, where taxpayers declare their income or annual income in order to comply with their tax obligations. Transfer Prices in Chile are contemplated in article 41-E of the Income Tax Law, which indicates that operations with related parties must be carried out at normal market prices, values or returns and in case of not complying with said As a rule, the Internal Revenue Service may challenge said values or establish them if none have been established.
Although the presentation of the Transfer Pricing Sworn Declarations is presented in June of each year, it is important that Taxpayers evaluate that their operations are carried out at normal market values before the presentation of Form 22 and in case of detecting any adjustments. for Transfer Prices to include it in said Form, since the Transfer Price declarations are informative and not determinative like Form 22.
For more information, contact us at rhuambo@tpconsulting.com or by phone (56-2) 2944-5015.
