Chile’s Tax Agency Reform Bill Approved By Senate

Chile’s Senate on May 5, 2015, approved a bill that strengthens the Internal Revenue Service (SII).

The bill was passed with 30 votes in favor and none against, with one abstention. It will now be sent to the Chamber of Deputies for consideration, following changes made by the Senate.

The bill aims to modernize and strengthen the efficiency, effectiveness, and integrity of the SII to improve its actions to reduce tax avoidance and evasion and boost revenue.

The bill contains a number of measures, including stricter procedures for selecting employees of the SII.

There will be periodic reviews of performance in a number of areas, including on customer service and efforts to improve compliance, and a review of how bonuses for SII employees are awarded.