Note on Convention and Protocol… US and Chile… Respect to Taxes on Income and Capital, Feb 21, 2012

The Department of State acknowledges receipt of diplomatic note No. 49,
dated February 10, 2012, from the Embassy of the Republic of Chile, which reads
as follows:

"The Embassy of the Republic of Chile refers the Department
of State to the Convention Between the Government of the Republic
of Chile and the Government of the United States of America for the
Avoidance of Double Taxation and the Prevention of Fiscal Evasion
with respect to Taxes on Income and Capital, and to the Protocol to
the Convention, both signed in Washington on February 4, 2010, as
corrected by an exchange of notes effected February 25, 2011.
Further errors were discovered in the English and Spanish language
versions of the Protocol which the Government of the Republic of
Chile proposes to rectify as follows:

# English version of the Protocol

Paragraph 20 of the Protocol, which currently reads:

20\. With reference to Article 27 (Exchange of Information)
"Notwithstanding paragraph 3 of Article 29 (Entry Into Force),
information covered by paragraph 5 of Article 27, to the extent that
such information is covered by Article 1 of DFL No. 707 and Article
154 of DFL No. 3 of Chile, shall be available with respect to bank
information corresponding to taxable periods or events commencing
as of January 1, 2010 and thereafter. Other bank information like
signature cards and other account opening documents may be
exchanged without regard to the time they were created."

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Shall now read as follows:

20\. With reference to Article 27 (Exchange of Information)
"Notwithstanding paragraph 3 of Article 29 (Entry Into Force),
information covered by paragraph 5 of Article 27, to the extent that
such information is covered by Article 1 of DFL No. 707 and Article
154 of DFL No. 3 of Chile, shall be available only with respect to
bank account transactions that take place on or after January 1, 2010.
Other bank information like signature cards and other account
opening documents may be exchanged without regard to the time they
were created."

## Spanish version of the Protocol

Paragraph 20 of the Protocol, which currently reads:

20\. Con referencia al Artículo 27 (Intercambio de Información)
"No obstante lo dispuesto en el párrafo 3 del Artículo 29 (Entrada en
vigor), la información comprendida en el párrafo 5 del Artículo 27, en
la medida que tal información se encuentre comprendida en Chile en
el Artículo 1 del DFL 707 y en el Artículo 154 del DFL No. 3, se
encontrará disponible sólo respecto de transacciones de cuentas
bancarias que se lleven a cabo a partir del 1 de Enero de 2010. Otra
información bancaria, tal como tarjetas firmadas y otros documentos
de apertura de cuentas, podrá ser intercambiada, sin perjuicio de la
fecha en que éstas fueron creadas."

Shall now read as follows:

20\. Con referencia al Artículo 27 (Intercambio de Información)
"No obstante lo dispuesto en el párrafo 3 del Artículo 29 (Entrada en
vigor), la información comprendida en el párrafo 5 del Artículo 27, en
la medida que tal información se encuentre comprendida en Chile en
el Artículo 1 del DFL 707 y en el Artículo 154 del DFL No. 3, se
encontrará disponible sólo respecto de operaciones en cuentas
bancarias que se lleven a cabo a partir del 1 de enero de 2010. Otra
información bancaria, tal como tarjetas firmadas y otros documentos
de apertura de cuentas, podrá ser intercambiada, sin perjuicio de la
fecha en que éstas fueron creadas."

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The Embassy of the Republic of Chile proposes, on behalf of
the Government of the Republic of Chile, that:

I.
The English and Spanish language versions of the Protocol be
further corrected as set out above; and

II.
The further corrected Protocol texts replace the defective texts
as from the date on which the Protocol was signed;

If the Government of the United States of America concurs
with the proposals contained in paragraphs I. and II. above, the
Embassy of the Republic of Chile proposes that this note and the note
in reply thereto of the Department of State expressing the concurrence
of the Government of the United States of America shall constitute a.
further correction of the English and Spanish language versions of the
Protocol and shall become part of the original versions thereof.

The Embassy of the Republic of Chile takes this opportunity to
renew to the Department of State the assurance of its highest
consideration.

Washington, D.C., February 10, 2012"

The Department of State confirms that the Government of the United States
of America concurs with the corrections proposed by the Government of the
Republic of Chile. Accordingly, the note of the Embassy of the Republic of Chile
of February 10, 2012, and this note in reply shall constitute a further correction of
the English and Spanish language versions of the Protocol and shall become part of
the original versions thereof.

Department of State,

1

Washington, February 21, 2012.

This document is a true and
correct copy of the original.
fondy k

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Gobierno
de Chile

MINISTRY OF FOREIGN AFFAIRS
EMBASSY IN THE UNITED STATES

# Nº04 9

The Embassy of the Republic of Chile refers the Department of State to the Convention
Between the Government of the Republic of Chile and the Government of the United States of
America for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with
respect to Taxes on Income and Capital, and to the Protocol to the Convention, both signed in
Washington on February 4, 2010, as corrected by an exchange of notes effected February 25,
2011. Further errors were discovered in the English and Spanish language versions of the
Protocol which the Government of the Republic of Chile proposes to rectify as follows:

## English version of the Protocol

Paragraph 20 of the Protocol, which currently reads:

### 20. With reference to Article 27 (Exchange of Information)

"Notwithstanding paragraph 3 of Article 29 (Entry Into Force), information covered by
paragraph 5 of Article 27, to the extent that such information is covered by Article 1 of DFL
No. 707 and Article 154 of DFL No. 3 of Chile, shall be available with respect to bank
information corresponding to taxable periods or events commencing as of January 1, 2010 and
thereafter. Other bank information like signature cards and other account opening documents
may be exchanged without regard to the time they were created."

Shall now read as follows:

#### 20. With reference to Article 27 (Exchange of Information)

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Gobierna
de Chile

MINISTRY OF FOREIGN AFFAIRS
EMBASSY IN THE UNITED STATES

"Notwithstanding paragraph 3 of Article 29 (Entry Into Force), information covered by
paragraph 5 of Article 27, to the extent that such information is covered by Article 1 of DFL
No. 707 and Article 154 of DFL No. 3 of Chile, shall be available only with respect to bank
account transactions that take place on or after January 1, 2010. Other bank information like
signature cards and other account opening documents may be exchanged without regard to the
time they were created."

## Spanish version of the Protocol

Paragraph 20 of the Protocol, which currently reads:

### 20. Con referencia al Artículo 27 (Intercambio de Información)

"No obstante lo dispuesto en el párrafo 3 del Artículo 29 (Entrada en vigor), la información
comprendida en el párrafo 5 del Artículo 27, en la medida que tal información se encuentre
comprendida en Chile en el Artículo 1 del DFL 707 y en el Artículo 154 del DFL No. 3, se
encontrará disponible sólo respecto de transacciones de cuentas bancarias que se lleven a cabo
a partir del 1 de Enero de 2010. Otra información bancaria, tal como tarjetas firmadas y otros
documentos de apertura de cuentas, podrá ser intercambiada, sin perjuicio de la fecha en que
éstas fueron creadas."

Shall now read as follows:

### 20. Con referencia al Artículo 27 (Intercambio de Información)

"No obstante lo dispuesto en el párrafo 3 del Artículo 29 (Entrada en vigor), la información
comprendida en el párrafo 5 del Artículo 27, en la medida que tal información se encuentre
comprendida en Chile en el Artículo 1 del DFL 707 y en el Artículo 154 del DFL No. 3, se
encontrará disponible sólo respecto de operaciones en cuentas bancarias que se lleven a cabo a
partir del 1 de enero de 2010. Otra información bancaria, tal como tarjetas firmadas y otros

<!-- PageBreak -->

Gobierno
de Chile

MINISTRY OF FOREIGN AFFAIRS
EMBASSY IN THE UNITED STATES

documentos de apertura de cuentas, podrá ser intercambiada, sin perjuicio de la fecha en que
éstas fueron creadas."

The Embassy of the Republic of Chile proposes, on behalf of the Government of the
Republic of Chile, that:

I.
The English and Spanish language versions of the Protocol be further corrected as set
out above; and

II.
The further corrected Protocol texts replace the defective texts as from the date on
which the Protocol was signed;

If the Government of the United States of America concurs with the proposals
contained in paragraphs I. and II. above, the Embassy of the Republic of Chile proposes that
this note and the note in reply thereto of the Department of State expressing the concurrence of
the Government of the United States of America shall constitute a further correction of the
English and Spanish language versions of the Protocol and shall become part of the original
versions thereof.

The Embassy of the Republic of Chile takes this opportunity to renew to the
Department of State the assurance of its highest consideration.

WASHINGTON D.C., February 10, 2012

EMBASSY OF CHILE
WASHINGTON, D.C

2\)