Chile Tax Agency Clarifies Tax Exemption for Redemption of Mutual Funds

The Chilean Internal Revenue Service Nov. 19 issued Letter No. 2657, clarifying the tax exemption for pension recipients who also receive income from the sale of mutual funds. The tax agency clarified that: 1) the 30 monthly tax unit (UTM) exemption for income from the sale of mutual funds applies regardless of the amount of pension income a taxpayer receives; and 2) taxpayers with no more than 30 UTM in income from the sale of mutual funds in a year are not required to file annual returns when a pension is their only other income . [Chile, Internal Revenue Service, ...