On January 1st, 2017, the effects of the bilateral agreement to Eliminate Double Taxation on Income and Wealth Taxes came into effect, also to prevent the Fiscal Evasion and Elusion between Chile and Argentina.
The agreement expects to increase the flow of investment, trade, services and technologies between the two countries, as it provides to companies and taxpayers the legal framework that they need, respecting the principles of market competition, public finance balance and protection of the rights of taxpayers.
The agreement incorporates the current OECD standards about the exchange of information for tax purposes between tax authorities, including the exchange of banking information, which will be available for transactions realized from January 1st, 2010. It also includes provisions to monitor the correct determination of transfer prices.