## [Chilean IRS (Servicio de Impuestos Internos) issued new instructions to implement the registration under the Registry of Foreign or International Financial Institutions](/pl/en_GB/new/chilean-irs-servicio-impuestos-internos-issued-new-instructions-implement-registration-under)
# Chilean IRS (Servicio de Impuestos Internos) issued new instructions to implement the registration under the Registry of Foreign or International Financial Institutions
Chile - 08 / 20 / 2021
Tax Alert Chile
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**On August 13, 2021 the Chilean IRS (*Servicio de Impuestos Internos*) issued Exempt Resolution No. 95 (*Resolución Exenta No. 95*), establishing the instructions to implement the registration under the new voluntary Registry of Foreign or International Financial Institutions as well as establishing the format by which a lender must provide the Borrower a statement confirming that it has not entered into a structured agreement (*acuerdo estructurado*) in accordance with Article 59 N°1 (b) of the Chilean income tax law (*Ley de impuesto a la* renta).**
This statement, in the form provided by the Chilean IRS, shall be provided by the lender to the borrower at the execution of the credit agreement, and also at any time when those credits are novated, assigned or any modification is made to the credit amount or the interest rate thereon.
Failure to provide this statement will result in the impossibility to apply the reduced 4% withholding tax rate (ordinary withholding tax rate is 35%) imposed on interest paid to foreign or international banks or financial institutions as well as to foreign insurance companies and foreign pension funds in accordance with Article 59 No.1 letter (b) of the Chilean income tax law.
Please note that this mandatory statement was introduced by the last tax reform (Law N°21.210, published on February 24, 2020) for all credits issued as of March 1, 2020, but there was not a specific format to provide that statement until this Exempt Resolution No. 95 was issued last week. Therefore, this specific format shall be complied with as of August 13, 2021.
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