Page 19 - MONTT LATIN AMERICAN MAGAZINE, SEPTEMBER 2021 (English)

ALERTA REGULATORIA
ALERTA REGULATORIA ALERTA REGULATORIA
ABrogleivnitaina Argentina
andaftertheconversion,endsitsturnand services, and Consumers to acquire or
ESTA SECCIÓN CORRESPONDE A UNA NUEVA HERRAMIENTA DE MONTT GROUP QUE BUSCA REEMPLAZAR EL INFORME MENSUAL DE
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Zero VAT Applies to
the individual company but the natural personal one.
The value of the assets contributed will be freelCy ahssiilgened by the parties in the deed of incorporation of the new. Society, in turn, the cost of the goods that were in the individual company will amount to their book value, including in said cost the profits that were pending taxation in the individual company. The higher value between the book value of the assets contributed in a process of conversion of an individual company into a joint-stock company, and the value assigned by the parties in the constitution of the new company, is generated for the natural person who carries out the input. The highest value obtained by the natural person will be taxed according to the general rules, that is, with IDPC and with the final taxes. The determined IDPC may be used as a credit against final taxes.
The tax cost of the shares that the natural person acquires in the new stock company that is created as a result of the conversion, will be equivalent to the value of the contribution, according to what the parties have given in the social constitution
New Regulation of Electronic Commerce
On September 23rd, Decree No 6 of the Ministry of Economy, Development and Tourism was published in the Official Gazette, approving the Electronic Commerce Regulation, which aims to strengthen the transparency and quality of the information that It is delivered to Consumers on Electronic Commerce Platforms, with a view to acquiring products or contracting services. This Regulation will be applicable to sellers, who offer goods or services on Electronic Commerce Platforms in exchange for a price or fee, and to Electronic Commerce Platform Operators in which products or services of third-party sellers are offered. Electronic Commerce Platforms shall be understood to be “any internet site or platform accessible through electronic means, which allows Sellers to offer products or
not be considered as Electronic Commerce Platform; those in which consumers cannot purchase the products or contract the services offered, regardless of whether or not the payment is made through the website or platform; those in which only advertising is displayed; nor those in which the consumer is only redirected to internet sites or vendor platforms.“
The main focus of this regulation is fixed on the duty of information, this obligation falling on both the seller and the figure of the trading platform operator, focusing on: Information on the characteristics and essential benefits of the products or services; information on hiring; information on the total cost; information on stock and availability; information on delivery, dispatch or withdrawal; information on the right of withdrawal; information about contact support; and information on terms and conditions.
Sanctions for non-compliance are subject to the provisions of Article 24 of Law No 19,496 on the protection of consumer rights, that is, fines of up to 300 UTM.
This Regulation will enter into force within 6 months from its publication in the Official Gazette.
Bycatch of Seabirds
On September 24th, 2021, the extract of exempt resolution No 2,569 of September 15th, 2021, of the Undersecretariat of Fisheries and Aquaculture, which modifies Exempt Resolution No 2,941 of 2019, was published in the Official Gazette through which were approved the management measures aimed at minimizing incidental catches of seabirds in trawl fisheries that take place in waters of national jurisdiction such as canned sea by vessels that sail the Chilean flag, through the mandatory use and carrying of tools and devices and compliance with good fishing practices that are detailed in said administrative act.
Import and Sell Capital
Argentina
Goods
The Government enacted Law No 1,391
that allows the importation of capital
goods with exemption from Value Added
Tax (VAT) and zero rate of this tax for
commercialization in the domestic market.
The aforementioned norm reduces to 0
percent the aliquot of the Value Added
Tax for importing capital goods, industrial
plants, machinery and equipment for
agriculture, industry, construction and
mining, establishing the Zero Rate
regime for the commercialization
Brasil
of goods. of capital, machinery and equipment in the country.
Chile
Tax Effects of Conversion of an Individual Company into a Joint-Stock Company
The Internal Revenue Service through Official Letter No 2,437 of 2021 ruled on the tax cost to be considered in determining the higher value that occurs when converting an individual company into a joint-stock company and its taxation.
The Internal Revenue Service clarifies that individual companies are characterized in that the assets and liabilities incorporated into the business of the company do not make up a separate patrimony, different from the personal patrimony of the individual entrepreneur. However, from an economic-tax point of view, it is allowed to distinguish between the assets and liabilities incorporated into the business and accounting of the company and the personal assets of the entrepreneur.
It has been understood that the conversion of an individual company consists of the contribution to a company that is created, of all the assets and liabilities existing in said individual company, which consequently terminates its activities, in accordance with the above, who carries out the contribution to society is the natural person and not the individual company that, in addition
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