Daily Tax Report: International

Chile Suspends Tax Payments as Coronavirus Roils Businesses

March 19, 2020, 8:44 PM

Chile will suspend corporate income tax payments for three months as part of a broader $11.75 billion package to help businesses hit by the new coronavirus outbreak, the government announced Thursday.

  • The government also will stop charging stamp duty on financial transactions for credit operations for six months.
  • Other tax measures include delaying value-added tax and property tax payments for companies with annual sales of up to 10 billion Chilean pesos ($11.6 million).
  • For around 500,000 business with annual sales of less than 2.1 billion pesos, the government will also delay the deadline for filing tax returns from April to May and postpone payments of taxes owed to July
  • The country’s tax authority a day earlier said it was delaying the deadline for filling annual income returns from March 19 to March 27.

To contact the reporter on this story: Tom Azzopardi in Santiago at correspondents@bloomberglaw.com

To contact the editor responsible for this story: Meg Shreve at mshreve@bloombergtax.com

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