The Convention was signed in Santiago on November 19, 2004.
The Convention stipulates conditions wherein legal entities and individuals of the two states will not be taxed twice on the same type of income and capital in both their state and the partner-state.
The Convention regulates rules for the taxation of incomes of entities and individuals, particularly taxes on property, profits from business activities, and international maritime and air transportation, as well as rules for the taxation of dividends, interest, royalties and certain types of personal income.
In addition, the Convention defines ways to avoid double taxation, establishes the principle of preventing discrimination in taxation, regulates the procedure for processing taxpayers’ complaints and resolving conflicts, and addresses issues of exchanging information between relevant authorities in Russia and Chile.