Today, Diario Financiero newspaper publishes an opinion column by our senior associate from the Tax practice, Antonia Menchaca. In her article, she discusses Ruling 44/2025 issued by the Chilean Internal Revenue Service (SII, for its initials in Spanish), which states that upon the death of a partner, a professional partnership would lose its status if the heirs joining the firm do not individually meet the legal requirements for such partnerships: “While the SII’s position is at least debatable, it highlights the urgent need to explicitly and thoroughly regulate the consequences of a partner’s death in the bylaws of a professional partnership. This should take into account not only the legal continuity of the firm—to prevent its potential dissolution under Article 2103 of the Civil Code—but also the need to avoid the admission of new partners who could automatically disqualify the firm from being classified as a professional partnership. Such a change would have a negative impact on its operations and taxation due to the loss of the VAT exemption that benefits this type of entity.“

To read the full article, click the link.