Echoes of the "convenios case": New IRS requirements to audit and control NGOs and foundations

Our partner Maria Soledad Diharasarri Lecanda commented in conversation with Diario Financiero on the new decision of the SII to supervise and control NGOs and foundations. The SII requires foundations with a yearly income of UF 12 thousand (previously UF 4 thousand) to disclose certain financial items. This is following the detection of irregularities in transfers of public resources to some entities of this type.

According to Soledad, it is a step in the right direction, as it increases the monitoring of the resources received by this type of organization.