From March 1, 2024 , the Stamp Tax (“ ITE â€) can only be declared and paid through the Internal Revenue Service (“ SII â€) website .
This measure is in line with the SII’s objective of becoming a zero-paper institution, which has meant that many of the procedures are carried out online .
The ITE is a documentary tax since, as a general rule, it taxes the issuance or subscription of a document that contains a money credit operation such as, for example, bills of exchange, promissory notes, simple or documentary credits, mutual money , among others. The ITE of money credit operations coming from abroad in which documents have not been issued or signed, will accrue when they are accounted for in Chile.
The ITE related to checks, protest of checks, minutes of protest of bills and promissory notes, bills of exchange, promissory notes, drafts, credit operations, external loans and free zone must be declared and paid through Form 24 . In turn, the ITE that taxes mutual money operations must be declared through Form 24.1 .
The rates of this tax are the following:
to. Instruments and documents on demand or without a maturity date have a rate of 0.332% on their amount.
b. Bills of exchange, promissory notes, simple or documentary credits, delivery of invoices or accounts in collection, bank discount of bills, loans and any other document, even those issued in dematerialized form, that contain a money credit operation, are affected. at a rate of 0.066% of its amount for each month or fraction of a month between its issue date and maturity, with a maximum of 0.8%.
It is important to keep in mind that the obligation to declare and pay the ITE must be fulfilled by the subjects responsible for paying this tax, among which are: the issuer of invoices, the creditor of bills of exchange, promissory notes and other credit instruments. , among others. Additionally, Notaries and Civil Registry Officials who authorize or notarize public or private deeds or documents subject to ITE, must demand that they be credited with the payment of the tax or withhold it and deposit it in fiscal coffers .
For more information, please contact:
Amory Heine
Partner
amory.heine@dlapiper.cl
