Abstract
Prior to the enactment of Law 21,210, published on February 24, 2020, the Chilean Income Tax Law contained several provisions governing the treatment of taxes paid abroad to be used as tax credits in Chile (Article 41 A, 41 C and 41 G). Under said legislation, there were number of mismatches between these provisions that generated certain inefficiencies and inequities, which resulted in burdensome situations for some taxpayers. Among other measures, Law 21,210 consolidated the foreign tax credit system into a new provision, introducing a unified regime.
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