Tax sustainability: an opportunity

Feb 5, 2025

We invite you to read the letter written by our Tax Group Director, Andrea Bobadilla, the tax sustainability initiatives introduced in the Tax Compliance Law.

Tax sustainability, introduced in Chilean regulations through Law 21.713, represents a global concept that redefines the relationship between companies and the State.

The year 2025 will be key to consolidate the concept in our country, with measures that seek to promote transparency and cooperation in the tax field. Among the initiatives highlighted are new requirements that encourage companies to report more clearly their tax responsibility, integrating international principles such as tax risk management and disclosure of their total contribution.

In addition, the annual tax sustainability certification emerges as an innovative tool. This recognition will make it possible to highlight certified companies as leaders in transparency and commitment, consolidating a tax system based on trust and good faith.

Although this is a recent initiative in Chile, other countries have already implemented successful collaboration programs between tax authorities and taxpayers, which have proven to be effective in promoting preventive actions to avoid tax litigation and promote compliance practices.

However, today companies have the opportunity to lead a cultural change in tax compliance, and I believe they cannot miss it.

Letter written by:

Andrea Bobadilla | Tax Group Director | abobadilla@az.cl

Source: La Tercera, 05 February [See here].

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