On 15 November 2023, the Chilean Senate (upper house of Congress) approved the ratification of the pending protocol to the 2001 tax treaty with Brazil. The protocol, signed 3 March 2022, is the first to amend the treaty and includes the following main changes:
- The title and preamble are replaced in line with OECD BEPS standards;
- Article 1 (Personal Scope) is replaced, including the provision that income derived by or through an entity or arrangement that is treated as wholly or partly fiscal…