Q and A for the topic: General

CASE 1: Additional Tax In August 2019, a limited liability company incorporated in Chile sent to a taxpayer, without domicile or residence in the country, income for benefits received that are not contained in articles 58 and 59 of the Law on Income Tax. Rent. The withholding of the Additional Tax, carried out by the company in accordance with the rules contained in the first paragraph of article 60 of the Income Tax Law with a general rate of 35%, amounted to $3,000,000.- Based on the information above, you are asked to answer the following questions: a) Is the beneficiary of the income obliged to submit an annual tax return in Chile using Form N° 22? b) What happens to the withholding made by the company, amounting to the sum of $3,000,000, whether or not the taxpayer should file the tax return? CASE 2: Inheritance Tax A natural person, married under the marital partnership regime, died on 08/20/2020 at his home located in Valparaíso, Chile. Background: The deceased's heirs are his spouse and 3 living children. The estate of the deceased records the following assets: Real estate, non-agricultural. Tax valuation upon death: $200,000,000.- Automobile. Tax valuation upon death: $12,400,000.- Shares: $85,000,000.- Inheritance does not declare an inventory of other assets. Tax appraisal, address at death: $65,200,000.- There is no will. Other background: UTM value on the date of death: $49,229.- UTM value on the date of tax payment: $49,673.- (January 2020) Table for determining the Inheritance Tax: FROM TO FIXED DEDUCTION RATE 0.1 UTM 960 UTM 1% of 0 UTM 960.01 UTM 1920 UTM 2.50% 14.4 UTM 1920.01 UTM 3840 UTM 5% 62.4 UTM 3840.01 UTM 5760 UTM 7.50% 158.4 UTM 5760.01 UTM 7680 UTM 10% 302.4 UTM 7680.01 UTM 9600 UTM 15% 686.4 UTM 9600.01 UTM 14440 UTM 20% 1166.4 UTM 14440.01 UTM AND MORE 25% 1886.4 UTM It is requested: a)Determine the percentage of assignment of assets to the succession. b)Determining the tax base affects the Inheritance Tax. c)Determine the tax obligation.

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