Information for issuers of stock corporations | ||||
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Dear Participants As you all know, Law No. 20,780 (Tax Reform), published in 2014 amended the current tax system, including new tax regimes as from January 1st, 2017. Among other issues, such amendments provide that publicly traded corporations will be subject to the Semi Integrated Regime, pursuant to the standards introduced by the Tax Reform and the Reform that included Law No. 20,899 of year 2016. As Manager of Shareholders Registries, DCV Registros would like to inform you that it has recently been evaluating a complementary process for the Dividend Payment Process, particularly focused on shareholders that do not Reside in Chile, which allows addressing these changes and, hence, complying with the new law. Within this context, meetings with and presentations to independent advisors, custodian banks, the IRS and the Ministry of Finance have taken place, in order to solve and simplify the implementation of this new law, both for Issuers and Non Resident shareholders. Currently, most market agents state that shareholders residing abroad must certify, whether directly or by means of their custodian, their country of residence, This must be certified by submitting the following information:
We invite the relevant Issuers to review these rules, in order for them to build their own interpretation. We would like to inform you that DCV Registros has improved its processes in order to manage shareholders’ residence and, as long as the IRS provides no different opinion, our service is empowered to receive the information and/or backgrounds provided by non-resident shareholders and custodians, and make it available to Issuers in order for them to validate it and determine the applicable withholding conditions. For further information, please contact the call center of DCV Registros at the telephone number (+56) 223 939 003 or at the email Greetings, |