Chile

Accounting Requirements

Accounting Books:

• Posting Journal (Libro Diario)
• Detailed Trial Balance (Libro Mayor)
• Trial Balance Reports (Balance Tributario de 8 Columnas)

Other Requirements:

• Inflation Accounting
• Official classification of Journal Categories
• Official currency rate to be used for transactions

VAT/Tax Requirements

Applicable Types

• VAT (IVA)
• Import VAT
• Withholding income tax (Retención)

VAT/Tax Books:

• VAT Ledger of purchase and sales (Libro de Ventas / Compras)
• WHT Ledger (Libro de Honorarios)

VAT/Tax Documents:

• Yearly Withholding Tax Certificate (Certificado Sobre Honorarios)
• Purchase Invoices self-issued for non legal suppliers (Boleta / Fac. Compra)
• Government Invoice templates or electronic barcodes

Other Requirements:

• Rules about Invoice Numbering

Usual business requirements

• Electronic payments of vendors

Requirements that exist in most countries, e.g. documentation of transactions, Annual Accounts or periodic reporting of VAT totals, are NOT listed above if no specific legislation exists about format or content.

DISLAIMER: No responsibility is taken of the correctness of above information. The specific accounting and VAT/Tax requirements for a company should always be confirmed with local auditors. The listed issues may not be applicable for all types of companies as well as additional issues may exist depending on the specific type of business.