Tax treatment of cloud computing services in Chile

19% VAT on certain digital services applies As is often the case, the reality and development of technological advances is faster than the legislation, particularly tax law.The digitalisation of the economy has been a key focus of tax debates in recent years. Political debates have focused on the differences between taxing physical business operations and virtual operations. A tax reform was discussed and approved in Chile in 2020, which was published through Law 21,210 on tax modernisation. In the middle of the tax reform discussion, the idea of an indirect and single tax was raised, which finally resulted in a VAT that is applicable to certain digital services.Foreign digital service suppliers that provide services to Chile must apply, collect and remit 19% VAT on certain digital...

Vertex Acquires Edge Computing Company Tellutax to Extend

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KING OF PRUSSIA, Pa., Jan. 25, 2021 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) (“Vertex” or the “Company”), a leading provider of tax technology and services, announced that it has acquired Tellutax, a Portland-based edge computing technology startup. Financial terms of the transaction were not disclosed. Tellutax designs edge-based technology utilizing a container architecture, which enables customers to deliver tax solutions seamlessly at the point of need with increased scalability and simplified management. “We believe Tellutax edge technology will extend our leadership in the enterprise market and accelerate our ecosystem expansion into next generation payment and IoT platforms,” said Vertex president and CEO David DeStefano. “This acquisition furthers our technology roadmap and hybrid cloud strategy, enabling us to...