~1-minute read. This article is part of our CrossBorder Audit Alert series.
Chile Announces Staff Increase for TP Audits
The Chilean Internal Revenue Service (Servicio de Impuestos Internos of SII) announced in 2016 they were seeking to collect USD $265M in transfer pricing adjustments.
The SII opened 255 transfer pricing audits in 2016. That number is expected to trend upwards as the years progress. The SII also drafted proposed regulations to significantly raise penalties.