Chile has enacted legislation enhancing access to bank information for the purposes of improved compliance with OECD standards on tax information exchange and increased transparency in financial transactions.

Previously, legal restrictions prevented Chilean tax authorities from obtaining and exchanging certain types of tax information in non-criminal tax cases. The new law, which is currently in effect and applicable as of January 1, 2010, will enable Chile to better comply with its current 20 bilateral tax treaties which provide for information exchange in tax evasion investigations.

FIED – Chile Passes Tax Law to Improve Transparency