Sistema tributario chileno

Doing Business in Chile…….

© Grant Thornton

Geography Geograph of Chile
Chile is a country on 3 continents:
1) Continental Chile (South America) 2) Chilean Antarctica 3) Easter Island (Oceania) E t I l d (O i )

Continental Chile is divided into four main geographical regions:
1) 2) 3) 4) Northern Atacama Desert Fertile Central Valley Lakes Region Islands and Fjords

Total Area:469,756 sq. miles 756,950 sq. km

© Grant Thornton

Demographics

• • • • •

Population: 16.6 million (2009 est.) Labor Force: 7.3 million (2008 est.) Infant Mortality Rate: 7.7/1000 Language: Spanish Religion: • • • • - Catholic 70% - Evangelical or other Christian 15% - Agnostic 8% - Other 4%

© Grant Thornton

Chile: A Strong Economy

• Sustained long-term economic growth –resuming strongly in 2010, despite earthquake • High domestic savings rate • Political stability • Prudent economic policy • Solid banking system • Foreign capital concentrated in medium and long term investments • Most pro-market economy in Latin America

© Grant Thornton

Chile Joins the OECD

• • • •

In January, 2010, Chile joined the Organization for Economic Cooperation & Development – oneof only 7 countries to join since 1973, and the first in South America. Recognition of the economic, financial, regulatory, and environmental gains made by Chile over the past 15 years. Provides higher international prestige and lower perception of country risk risk, leading to greater international investment and lower borrowing costs. Gives Chile an ¨equal voice¨ at the table with regard tomacroeconomic policymaking, policymaking and access to innovative new ideas on education, job creation, education creation and many others.

© Grant Thornton

Double Taxation Agreements

Bilateral tax treaties limit the d bl taxation that would otherwise occur on i Bil l i li i h double i h ld h i international b i i l business and d personal income. 16 Implemented Tax Treaties

• • • • • •Argentina Brazil Canada Croatia Denmark Ecuador

• • • • •

France Mexico New Zealand Norway Peru

• • • • •

Poland South Korea Spain Sweden United Kingdom

14 Tax Treaties Under Negotiation

• • • • •

Australia * China Cuba Czech Republic Finland

• • • • •

Hungary Ireland Italy Malaysia * Netherlands

• • • • •

Paraguay Russia * Switzerland United States * Venezuela© Grant Thornton

TAXATION

· Principal taxes in Chile
All taxes in Chile are levied at the national level. There are no significant municipal, provincial or regional taxes, excepting the Municipal License. The principal sources of tax revenue are: -Corporate and p p personal income taxes. -Value-Added Tax. -Import duties. -Stamp tax In addition, the Chilean tax system includes a realestate tax, inheritance and gift tax, and several other taxes.

· Tax Control
The institution in charge of the inspection and control of taxes in Chile is the Chilean Internal Revenue Service (SII). The SII is also in charge of issuing instructions, rulings and interpretation to the tax laws. The SII has a special inspection unit for large corporate taxpayers. In h I the event of controversy b fbetween the taxpayer and the SII the administrative procedure i carried out i fi i h d h SII, h d i i i d is i d in first instance before the Regional Director of the SII who acts as Tax Judge. The possibility of appeals to the Courts of Appeals and, finally, to the Supreme Court exists. The statute of limitations is three years counted as from the date in which the payment of the correspondingtaxes should h h ld have b been made. I special cases the term extends to 6 years. d In i l h d

© Grant Thornton

TAXATION

· Income tax
Income taxation in Chile is based on two factors: the taxpayer's place of residence and the source of the income. All resident taxpayers, whether individuals or corporations, are subject to taxes on their total income, wherever earned, with the sole...