Comptabilitat a Xile

Accounting Rules

Tax Year

The fiscal year begins on 1 January and ends on 31 December of the same year (calendar year).

Accounting Standards

Chile has adopted the IFRS (International Financial Reporting Standards) (for public companies and financial entities between 2009 and 2012 and for SMEs in 2013)

Accounting Regulation Bodies

Ministry of Finance

Accounting Reports

The basic financial statements include the balance sheet, the statement of income, the statement of cash flows and notes to the financial statements.

Publication Requirements

Companies have to produce their annual financial statement to the shareholders of the company. The account books must be published in Spanish and use the Chilean currency as reference.

Professional Accountancy Bodies

Colegio Contadores , Chilean Association of Accountants

Certification and Auditing

External audits are compulsory for companies with capital and foreign investors with repatriated profits. External auditors include Deloitte, KPMG, Ernst & Young, PricewaterhouseCoopers among others.

Accounting News