First Category Tax (“Corporate Tax”) determined based on full accounting records
- The partially integrated regime approved by the Chamber of Deputies is maintained as the only tax regime, confirming the elimination of the attributed income regime.
- The methods of calculation of the credit for Corporate Tax in respect of distributions, dividends and other amounts are modified.
- The imputation rules applicable to distributions, dividends and remittances are modified.
- The 100% integrated system approved by the Chamber of Deputies is maintained as the SME tax regime.
- The Monthly Provisional Payments (PPM) rate is reduced from 0.25% to 0.2%, with respect to those SME taxpayers who, subject to the tax transparency regime, had obtained gross revenues of less than UF 50,000 in the previous fiscal year.
Provisional Payments for Absorbed Taxable Profits (“PPUA”)
The PPUA refund for profits received from other companies that are absorbed by the losses of the receiving company is gradually eliminated, according to the following percentages of recovery:
Year 2020: 90%
Year 2021: 80%
Year 2022: 70%
Year 2023: 50 %
Year 2024 and following years: 0%