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Chile - Overview and introduction

Chile - Overview and introduction

Taxation of international executives

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Colourful houses with sloping roofs near sea, Chile

The taxation of international executives in Chile, will depend on the conditions of the assignment. Foreign workers who become residents or are considered domiciled for Chilean tax purposes, will be subject to taxes in Chile on their Chilean source income for the first 3 years of their stay in the country/jurisdiction. After the third year, foreign workers are subject to taxes on their worldwide income. Foreign workers who do not meet the requirements to become residents or are not considered domiciled for Chilean tax purposes will be subject to the Additional Tax (a flat tax rate of 35 percent, which can be reduced to 15 percent for employment income for professional/technical services).

The official currency in Chile is the Chilean peso (CLP).

In Chile there are 2 types of visa that can be requested by foreign individuals in Chile. One is the Temporary Visa with an extension of 1 year and the second is the Visa to subject to employment contract with an extension of 2 years in which the last one is directly linked to an employment contract with a Chilean company.

Disclaimer

All information contained in this publication is summarized by KPMG Chile, the Chilean member firm affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity, based on Chilean income tax law Decree law n° 824..

Copyright

© 2019 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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