¿Abusive crypto-tax In Chile?

By Cryptoray | Older Posts | 4 Feb 2019


¿We are facing a case of abusive crypto-tax  in Chile?

Last year the country's government called the cryptocurrencies and tokens of intangible assets and exempt from VAT. While a sharp turn proceeds to apply tax payments to tax operating. The Chilean government has included, for the first time, a section forms includingcryptocurrencies. The South American country, thus promoting cryptocurrencies could end up with higher levels of privacy. Due to legislative tightening, could see migration of funds to more complicated to track cryptocurrencies. Its citizens must adapt to the rules, and thus about numbers that seem to satisfy anyone; except whom the frame and approved.


It seems that fails to start the Chilean sector, profits tax rates apply cryptocurrencies and tokens. They will have to take crypto income taxes this year; therefore it affects those who have profited from their operations. The Chilean Internal Revenue Service (SII) will apply attaching a list of cryptocurrencies and tokens; In addition, a form with annual income taxpayers will be filled. From this point, it proceeds to triubutar depending on personal results. Obviously, it would be pointless to squeeze the taxpayer receiving operating losses. Therefore it applies on profits. Therefore it should be declared as  "other income and / or income from third -party companies that declare their actual income".



Local sources collect statements about crypto-tax in Chile

As the final part, we share a local source ( LaTercera ) that indicates precisely the most important impressions. In a case like that happens, count on local sources helps us in the distance. One of the best explanations we have found on the net, is as follows. We share the text without editing LaTercera reads:


As the tax lawyer, Claudio Bustos, partner Bustos Tax & Legal, "for the features it has and use that is given, the legal definition ofcryptocurrencies for tax purposes roams in the world among consider a type of coin or type of asset or commodity. "

He added that "although used as payment, it is clear that money itself is not, so most of the laws so far are inclined to treat it as a commodity or type of generated active between private, between including those of Canada, Australia and India. "

Thus, the SII defined cryptocurrencies to as "active monetary agreed private" extensive characterization insofar governed only from the general rule. Thus, as noted by the Service itself, "monetary assets are the only ones suffering adverse effect against inflation, such as cash, bank loans or non-indexed debt process."


As mentioned Source consulted and, thanks and mention: 
https://www.latercera.com     & the website posting my article, noticiasbitcoin.io

How do you rate this article?


Cryptoray Verified Member

I am an enthusiast of cryptocurrencies and new technologies. Proud to be Ambassador at Synternet.

Older Posts
Older Posts

Noticias del Universo Blockchain. Blockchain news & reviews

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.