1. This diagram includes the amendments introduced by Law No. 20,899.
Capital gain in the disposal of shares or equity interests
Are they shares from an open-stock corporation incorporated in Chile with stock market presence? No
Yes
Was the disposition made in: (i) a Chilean stock exchange authorized by the Superintendency of Securities and Insurances (“SVS”) or (ii) in a takeover bid pursuant to the rules contained in Title XXV of Law No. 18,045 (“SML”) or (iii) in securities contribution pursuant to Article 109 of the Income Tax Law (“ITL”)? No
Yes
Were the shares purchased: (i) in a Chilean stock exchange authorized by the SVS or (ii) in a takeover bid pursuant to the rules contained in Title XXV of the SML or (iii) in a placement of shares of first issue or as a consequence of the company’s incorporation or of a capital increase or (iv) on the occasion of the exchange of public offering securities convertible into shares or (v) in a securities repurchase pursuant to Article 109 of the ITL?
Non taxable income
Yes No
Are they shares from a corporation that were purchased before January 31, 1984? Is there no relationship between the seller and the buyer and is the sale of shares not a usual business of the seller?
Non taxable income
Yes No
Is the seller a CT taxpayer that declares its income based on effective income or that transfers the shares to a related party?
Ordinary income (CT+ Final Taxes)
Yes No
Non taxable income
Is the capital gain higher than 10 UTA (approximately USD 8,000)? No
Yes
The total amount of the capital gain is subject to Final Taxes (on an accrued or perceived basis, at the election of the taxpayer) + possibility to resettle the GCT by declaring on an accrued basis
Notes:
This diagram includes the amendments introduced by Law No. 20,899.
Taxation applicable as from year 2017.
The capital gain subject to taxes is determined by the difference between the tax cost of the shares or equity interests and the sale price.
Resettlement is an option to distribute the capital gain in the fiscal years in which the shares or equity interests were held, up to a maximum of 10 years.
Abbreviations:
 CT = Corporate Tax.
 GCT = Global Complementary Tax.
 Final Taxes = GCT or Withholding Tax.
*The content of this document is provided by Carey y Cía. For educational and informational purposes only and is not intended to be exact or complete, and should not be relied on as a substitute for legal advice. Carey y Cía. is not responsible for any consequences resulting from the action, lack of action or decision regarding the information contained in this publication.