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| The Chile Information Project |
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Chile Business and Income Tax Information Chile has three tax categories: First Category, Second Category and Additional Tax. First Category taxes apply to businesses and independent or freelance professionals. It is usually around 15 percent, but varies according to income bracket. Second Category taxes apply to employees of companies. The percentage rate also varies according to income bracket. Additional Taxes are levied to non-resident independent businesses and employees thereof.  Foreign personnel who stay in the country for less than six months must pay a 20 percent "additional" tax. This must be withdrawn or paid before leaving the country. Accounting is done in both U.S. dollars and Chilean pesos. The accounting period coincides with calendar year. Tax returns must be filed on April 30 each year for income earned in the previous year. Except for property taxes, there are no taxes on holdings or value of capital. Taxes are based primarily on profits earned. Chilean branches of foreign companies are charged 35 percent in income taxes. The government has stringent requirements for "no tax" status. Charitable donations are nondeductible. Taxes are administered by the Servicio de Impuestos Internos (Internal Revenue Service) and payable to the Tesorería de la Republica (Treasury Department). You can make payments at most banks and financial institutions (see Chilean Banks). Addresses
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