TMF Chile

In addition to our global portfolio of services, TMF Chile provides extra support for specific local requirements including:

Administrative processes:

We can manage all processes related to accounts payable and accounts receivable, including treasury management, administrative support and data processing, using our own accounting system or that used by our client.

Our services will allow you to focus on your key business areas, leaving the administrative tasks in the hands of professionals. Our services include support for:

• Payment management to suppliers - treasury, working directly with the Finance area of our clients.
• Elaboration of cash flow reports, in TMF Group formats or those required by our clients.
• Customer invoicing - collection. Issuance of sales invoices in public (IRS) or private systems, according to the volume of documents issued by our clients. Accounts receivable control and collection management.
• Inventory - stock control (cost of sales), in TMF Group's own systems or in systems owned by our clients.

Tax consulting:

TMF Chile has a team of local experts who can prepare a report presenting the main local tax aspects that an entity starting operations in Chile must consider. This report will review the type of business, the industry to which it belongs, the taxes that will apply, in general the tax treatment that the business will have in Chile.

In addition, it will include the analysis of the application of double taxation avoidance agreements that Chile has with the countries where the entity will have transactions and the country of origin of the initial capital.

In the case of entities in operation, TMF Group can compile a tax health check that assures our new clients that the taxes declared and paid in previous periods are duly supported and are determined under current tax regulations.

Defenses before the local tax authority

TMF Chile can provide support in administrative review processes carried out by the local tax authority, either by attending tax reviews or audits, preparing reports required by the tax authority or preparation of administrative petitions to be submitted to this institution.

Preparation of financial statements in different currencies or under accounting criteria different from the local standard

In Chile, the official accounting principle is IFRS. Financial statements must be prepared in accordance with the functional currency. TMF Group can prepare financial statements in currencies other than the functional currency or in accounting principles other than IFRS, for example US GAAP, if required by our clients.

Customisation processes of corporate accounting systems

TMF Chile can provide IT support to our clients to customise processes within their corporate accounting systems, adjusting them to local regulations. This support can be provided in the planning, implementation and testing phases, in order to ensure that the corporate accounting system complies with all tax requirements in Chile.