SME’s tax system

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SME’s tax system

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  • First Category Tax rate: 25%.
  • SME’s requirements:
    1. Ordinary perceived or accrued gross income lower than UF 50,000, based on the average in the last 3 years (such gross income average should be maintained during the year), considering related parties income;
    2. Adjusted-tax equity lower than UF 60,000 when starting activities;
    3. At least 65% of the income corresponds to non-passive activities (revenue obtained by the possession or exploitation of agricultural real estate is not considered as passive income).
  • Instantaneous depreciation on any kind of fixed assets.
  • Option of filing and paying taxes based on an IRS proposal (net taxable income levied with First Category Tax).
  • IRS’ proposal based on the business sector average profit margins.
  • Incentives for the financing or participation in SME whose purpose is technological entrepreneurship and innovation. The contributing or financing companies shall be certified by the Production Development Corporation (CORFO).

[/et_pb_accordion_item][et_pb_accordion_item _builder_version=”3.12.2″ title=”Incentive for saving” use_background_color_gradient=”off” background_color_gradient_start=”#2b87da” background_color_gradient_end=”#29c4a9″ background_color_gradient_type=”linear” background_color_gradient_direction=”180deg” background_color_gradient_direction_radial=”center” background_color_gradient_start_position=”0%” background_color_gradient_end_position=”100%” background_color_gradient_overlays_image=”off” parallax=”off” parallax_method=”on” background_size=”cover” background_position=”center” background_repeat=”no-repeat” background_blend=”normal” allow_player_pause=”off” background_video_pause_outside_viewport=”on” text_shadow_style=”none” box_shadow_style=”none”]

  • Savings incentive for companies with an annual gross income of less than 100,000 UF (exceeds application to SMEs).
  • Deduction of up to 50% of the taxable income that remains invested in the company (capped at UF 4,000).
  • This provision will not apply to companies whose passive income (from investment fund shares, mutual funds, fixed income instruments, shares, among others) exceeds 20% of their gross income.

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  • The company is not subject to the First Category Tax. The final tax is directly applicable over the proportion that corresponds to each owner in the profits of the company.
  • Only for companies that have full accounting records and whose average gross income is less than UF 50,000.
  • The owners of the company must be exclusively taxpayers subject to Complementary Global Tax.
  • Does not apply to open stock corporations.
  • The option must be exercised and maintained for at least two consecutive business years.

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