Tax Benefits for Those Affected by the Forest Fires in Chile

The recent forest fires in Chile have left a trail of devastation in the Valparaíso and Marga Marga provinces. In response to this tragedy, the Internal Revenue Service (SII) has announced a series of measures to alleviate the tax burden of those affected. These measures are specifically targeted at owners, proprietors, and occupants of properties located in the areas impacted by the catastrophe.

Loss of Inventory Stocks

For taxpayers who have suffered losses in their inventories, a specific procedure has been established. This procedure allows them up to six months to report these losses to the SII. The report should be made at the Unit corresponding to the taxpayer’s domicile and should be supported by various types of evidence, such as photographs, records, and reports from relevant institutions.

For further information, refer to Circular No. 6 of February 5, 2024.

Condonation of Fines for Loss of Accounting Documents

Another measure announced by the SII is the condonation of fines for not giving notice to the SII within the ten days established in case of loss of accounting books or other relevant documents.

For further information, refer to Circular N°6 of February 5, 2024.

Forgiveness of Surcharges for Late Payment of Forms 29 and 50

Taxpayers affected by the fires in Viña del Mar, Quilpué, Limache, and Villa Alemana will benefit from the automatic remission of all surcharges associated with the payment and declaration of Forms 29 and 50. This benefit will be applied automatically when the return is submitted online through the SII website.

For further information, refer to Resolution N°21, dated February 5, 2024.

Reduction of Assessments and Contributions

To further support those affected, the SII has introduced a measure to reduce the appraisal or contributions of the affected properties. Taxpayers seeking this benefit must submit a request through an Administrative Petition on the SII’s website or at the corresponding offices. The request should include evidence that supports the impact of the loss on the real estate. The SII pledges to resolve these requests within a maximum period of 20 working days.

For further information, refer to Resolution N°22, dated February 6, 2024.

Facilitation of Donations in Affected Areas

The process of tax benefits for donations to affected areas has been streamlined to aid in the relief efforts. These benefits include income tax base deduction, in-kind benefits, and donor tax credits.

For more details on these measures and how to access them, official information can be found in the resolutions and circulars issued by the SII.

The SII’s actions aim to provide support and relief to the communities affected by these natural disasters. By facilitating their recovery and reconstruction in these times of great need, the SII is playing a crucial role in helping these areas heal and rebuild.

For further information, refer to Circular N°6 of February 5, 2024.

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