Industries

Helping clients meet their business challenges begins with an in-depth understanding of the industries in which they work. That’s why KPMG LLP established its industry-driven structure. In fact, KPMG LLP was the first of the Big Four firms to organize itself along the same industry lines as clients.

How We Work

We bring together passionate problem-solvers, innovative technologies, and full-service capabilities to create opportunity with every insight.

Learn more

Careers & Culture

What is culture? Culture is how we do things around here. It is the combination of a predominant mindset, actions (both big and small) that we all commit to every day, and the underlying processes, programs and systems supporting how work gets done.

Learn more

Chile: Unemployment fund management company qualifies for benefits of U.S. income tax treaty

A report discussing recent direct and indirect tax-related topics

Share
January 23, 2025

Ruling No. 2396/2025 provides that the Chile-United States income tax treaty is applicable to both the funds managed by the unemployment fund management company (AFC), as well as to the AFC itself.

  • Thus, income from financial assets invested in the United States received by a Chilean resident who meets the requirements of Article 24 on the limitation of benefits (LOB) will qualify for the benefits of the treaty.
  • In addition, income generated by the AFC for its own account generally will qualify for the benefits of the treaty because the AFC is a closed joint-stock company subject to taxation in Chile on its worldwide income and thus will be considered a resident person of Chile under the terms of the treaty. It is also expected that the AFC will satisfy the LOB requirements under the treaty.

Read a January 2025 report (Spanish and English) prepared by the KPMG member firm in Chile

Other direct and indirect tax-related topics discussed in this report include:

  • Anti-avoidance rules in asset contributions
  • Sale of foreign shares subject to the voluntary and extraordinary declaration system of assets or income
  • Criteria to define a case as relevant or of institutional interest
  • Reclassification of assets from realizable assets to fixed assets
  • Tax documents to be issued by sellers of used movable goods
  • New instructions on the donation regime to non-profit entities
  • Updated list of large taxpayers
  • Issuance of invoices by supermarkets and restaurants
  • Daily penalty interest rate for the first semester of 2025

Thank you!

Thank you for contacting KPMG. We will respond to you as soon as possible.

Contact KPMG

Use this form to submit general inquiries to KPMG. We will respond to you as soon as possible.

By submitting, you agree that KPMG LLP may process any personal information you provide pursuant to KPMG LLP's Privacy Statement.

An error occurred. Please contact customer support.

Job seekers

Visit our careers section or search our jobs database.

Submit RFP

Use the RFP submission form to detail the services KPMG can help assist you with.

Office locations

International hotline

You can confidentially report concerns to the KPMG International hotline

Press contacts

Do you need to speak with our Press Office? Here's how to get in touch.

Headline