Chile Passes Measures to Eliminate Business Platform Regime, Enable Financial Account Information Exchange, and Extend Deadline for Full Imputation Credit

Chile's Senate has announced the passage of a project law (Bill 11404-05) that incorporates various tax measures, including:

• The elimination of the Business Platform Company Regime, which has been characterized by the OECD as potentially harmful regime in relation to BEPS Action 5 - Transitional measures are provided through 2021 for companies already approved for the regime (full elimination 2022);
• The introduction of measures to enable the automatic exchange of financial account informati…