Law N°21.713 on tax compliance: Circular 2-2025
Under Law N°21.713 on tax compliance, the number of transfer payments received by taxpayers in both bank accounts and accounts of other financial entities will be monitored. The Servicio de Impuestos Internos (SII) (Chilean IRS) issued Circular 2-2025 which provides for operational instructions regarding the mandatory disclosure of information to be reported by the various entities.
In the opinion of our associate Maria Valentina Walker Andrade, the circular would exclude transfers from prepaid cards or accounts with provision of funds issued by non-banking entities -as they are not explicitly included in Law 21.713-, notwithstanding that these may be subject to other legal reporting duties. For example, administrators, operators, or suppliers of electronic payment means have to inform the operators of digital intermediation platforms of third parties’ effective registration of activities with the IRS, and they must inform the Service.