On April 29, 2022, the Chilean government extended the deadline to file 2021 Chilean annual income tax returns for companies and individuals until May 12, 2022. The original deadline was May 2, 2022.
WHY THIS MATTERS
The extended deadline provides relief to taxpayers who may be unable to meet the original filing/reporting deadline. Taxpayers and tax service providers should be aware of the relaxation of the filing deadline and take action to meet the new deadline as appropriate. This extension is the result of Supreme Decree N° 623 issued by Chile’s president1.
A similar measure was taken in 2021 whereas a result of the pandemic a one-month extension was granted. (For prior coverage, see GMS Flash Alert 2021-132, May 4, 2021.)
2021 Chilean Income Tax Returns
Filing and Payment Extension
For the 2021 tax year, taxpayers could file their Chilean income tax returns from April 1, 2022 to May 2, 2022, and pay any applicable balance due (returns with refunds had a deadline of May 10). On April 29, 2022, the government communicated that the filing deadline has been extended until May 12, 2022, for following individual returns:
- 2021 Annual Income Tax Return (Form 22) regardless of tax return result (i.e., refund or balance due).
- Late-filed tax returns are subject to an inflation adjustment and interest of 1.5 percent per month, penalties of 10 percent for the first 5 months, thereafter increased by 2 percent per month (limited to 30 percent) on the total tax amount due.
FOOTNOTE
1 The Supreme Decree has been published on Chile’s official gazette (Diario Oficial, Núm. 43.241, Sábado 30 de Abril de 2022) website. See: https://www.diariooficial.interior.gob.cl/publicaciones/2022/04/30/43241/01/2122774.pdf.
The information contained in this newsletter was submitted by the KPMG International member firm in Chile.
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