On 5 September 2006, the Chilean tax authority (SII) issued the Circular 50, clarifying the application of the foreign tax credit (FTC) established under domestic law and tax treaties with respect to income not expressly mentioned in the domestic law (i.e. Arts. 41 A and 41 C of the Income Tax Law). The following is a summary of the most important aspects.

There is a difference betwe…

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