The Chilean tax authority (SII) has issued Ord. No. 1958 of 20 September 2018, which clarifies the reporting and inclusion of controlled foreign company (CFC) income in relation to the 2,400 UF passive income threshold and the sworn statement on operations abroad (Form 1929).
The Order clarifies that CFCs meeting the passive income threshold must be reported, but this does not necessarily mean that the income must be included in taxable income since other exclusions may apply, including wh…