Skip to main content

Chile: Nonresident shareholders may not request refunds of excess withholding taxes through foreign securities depository or custodian

Summary of recent tax developments

Share
january 27, 2026

Official Letter No. 2670/2025 provides that a foreign securities depository or custodian, acting on behalf of nonresident shareholders of a Chilean company, cannot request a refund of excess withholding taxes on dividends resulting from the late issuance of tax residency certificates (TRCs).

Rather, nonresident shareholders may either request refunds themselves or through a responsible agent for tax purposes. Only banking institutions operating in Chile, stockbrokers, securities agents, fund management companies established in the country, and financial institutions supervised by the Financial Market Commission (CMF) can act as responsible agents.

Read a January 2026 report (Spanish) prepared by the KPMG member firm in Chile

Other tax-related developments discussed in this report include:

  • Confidential Letter No. 124/2025: General accounting standards (NGA) applied to business reorganization
  • Official Letter No. 2512/2025: Allocation of publicly traded shares in a division
  • Official Letter No. 2507/2025: Dissolution of a foreign company
  • Official Letter No. 2626/2025: Expenses for parties or events and gifts given to employees

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.

KPMG. Make the Difference.


Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. KPMG LLP does not provide legal services.

The information contained herein is not intended to be “written advice concerning one or more Federal tax matters” subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230.

© 2026 KPMG LLP, a Delaware limited liability partnership, and its subsidiaries are part of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.

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.
All fields with an asterisk (*) are required.

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

An error occurred.

Job seekers

Visit our careers section or search our jobs database.

Search now!

Submit RFP

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

Submit

Office locations

View locations

International hotline

You can confidentially report concerns to the KPMG International hotline

Learn more

Press contacts

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

Contact

Headline