Administrative essentials

Accounting & reporting in Chilean business

All individuals or entities that start business activity in Chile must fulfill certain administrative requirements. These include obtaining official numbers and licenses, as well as keeping records.


The principal administrative requirements are:

Excluding the above, foreign investors in certain kinds of securities may be relieved from having to maintain complete accounting records and from filing yearly tax returns.

Accounting and bookkeeping

An entity’s financial year cannot exceed twelve months and can end on any day chosen by the shareholders. However, for tax purposes, entities must adopt a December 31st year end, although the Internal Revenue Service can authorise the use of a June 30th year end.

In general, all businesses and taxpayers are required to keep complete accounting records, in the form of a cashbook, a journal, a ledger and a balance sheet register. In addition, the following records must be maintained for tax purposes:

All financial records must be stamped by the Internal Revenue Service.

Enterprises that operate in the free trade zones (Arica, Iquique and Punta Arenas) and in areas subject to incentives (currently the I, XI and XII regions and Chiloé Province) are required to maintain a separate set of accounting records for those operations. © 2003-2020 Just Landed