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Casinos on board.

“Law N° 20,549, dated November 02, 2011, has modified Law N° 19,995, dated January 07, 2005. Previously, only certain Chilean flagged passenger vessels (which met the requirements set out in Law N° 19,995) were authorized to run casinos on board. From November 02, 2011, also foreign flagged passenger vessels will be entitled to run casinos on board provided that they fulfill with the requirement set out N° 2 of article 1 of Law N° 20,549. For further detailed information, please contact Tomasello & Weitz”.

Recovery of VAT.

According to Oficio N° 1584 of the Internal Revenue Service dated July 6th, 2011, shipping companies engaged in international carriage of goods or passengers by sea (exempted from VAT) and also costal trade (which is subject to VAT) may not recover the VAT fiscal credit arising from those periods in which no international carriage of goods or passengers has taken place. This since the VAT fiscal credit would have resulted from costal trade, which does not give a right to recover the respective VAT fiscal credit.

Amendments to Customs Ordinance.

In the Official Gazette dated September 29, 2011, the “Resolucion Exenta” 5055 dated September 12th, 2011, has been published. This resolution modifies the Customs Ordinance. Today this regulation allows that the import of some oil derivatives be completed by preparing the Import Declaration on the basis of an invoice with a provisional price. This since the final price of these products depends on confirmations, which will become known only after the import has been completed. The resolution in analysis will allow this procedure for the following products: natural gas, butane gas, propane gas, liquid natural gas, bunker (IFO 180), bunker (IFO 380), crude oil, diesel oil, gas for vehicles of 93, 95 and 97 octanes, gasoline for aviation, kerosene, aviation kerosene, Jet Fuel and Chilean gasoline A1. With regard to all these products, it will be possible to prepare the Import Declaration on the basis of invoices with provisional prices.

Possible changes to cabotage reservation.

The Chilean Government has recently announced possible changes to the cabotage reservation currently in force under Decree Law 3059 of 1979. Cabotage (defined according to Article 3 of DL 3059 as “the carriage of cargo and/or passengers by sea between points within the national territory, and between the latter and naval artifacts installed in territorial waters or within the exclusive economic zone”) is reserved to Chilean vessels (according to article 1 of DL 3059 “Chilean Shipowner” or “Chilean Shipping Company” are understood to mean “the individual or body corporate