On May 15, 2024, the National Congress approved a new "Substitute Tax" with rates of 12% and 30%, depending on the taxpayer's tax regime. This was part of the approval of the bill that creates the Temporary Emergency Fund for Fires, which still needs to be approved by the President of the Republic and sent to the Constitutional Court as it contains provisions of the Constitutional Organic Law.
Taxpayers under the General Tax Regime (Art. 14 A of the Income Tax Law) can opt, until January 2025, to pay the Substitute Tax at a rate of 12% on part or all of the taxable profit balance accumulated in the RAI as of December 31, 2023, without the right to credits from their SAC records.
Taxpayers under the Pro-SME Regime (Art. 14 D of the Income Tax Law) can opt, until January 2025, to pay the Substitute Tax at a rate of 30% on part or all of the taxable profit balance accumulated in the RAI as of December 31, 2023, with the right to credits from their SAC records.
It will be understood that the accumulated taxable profits that benefit from the Substitute Tax have fully satisfied their Income Tax obligations; they will not be considered distributed by the company that availed itself of the tax benefit and can be withdrawn by the company’s owners without being subject to the order of allocation established in the Income Tax Law.
En caso de requerir información adicional sobre esta materia, contactar a Rafael Valdivieso (rvaldivieso@jdf.cl) o Martín Hudson (mhudson@jdf.cl)
