Form 50: Key Points for Declaration

Form 50: Key Points for Declaration

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The so called Form 50 was incorporated into the Chilean tax regime in 2001, year in which the Chilean Internal Revenue Service (SII) created it through Exempt Resolution N°27, the objective of this form is the monthly declaration and simultaneous payment of different taxes established in this country.

Through the years until now, it has been modified in its structure and design by means of different resolutions issued by the Tax Administration, such as the Exempt Resolutions. SII No. 87, of September 8, 2004; No. 94, of September 23, 2005; No. 27, of February 25, 2009; No. 78, of May 28, 2009; No. 144, of August 31, 2010; No. 41, of March 29, 2011; No. 10, of January 23, 2013; and No. 9, of January 22, 2014; No. 69 of July 21, 2014 and No. 128 of December 31, 2014.

The purpose of this article is to absolve certain doubts that taxpayers may have regarding their tax returns on Form 50.

What taxes must be filed on the Form 50 Monthly Return and Simultaneous Payment?

In accordance with the aforementioned provisions, new taxes that can be declared and paid through this form have been introduced in these amendments, being currently all of the following:

No. of Line of Form 50

Concept
1 to 42

Additional Income Tax

43

Specific Tax 1st Diesel Oil Sale
44

Specific Tax 1st Sale Automotive Gasolines

45

Specific Tax on First Sale of Automotive Gasoline 97 Octane
46

Compressed Natural Gas Vehicle Tax

47

Liquefied Petroleum Gas Vehicle Tax
48

Horseback Betting

49

Gambling Tax
50

Casino Entrance Tax

51

Tax 20% of the gross income of the casinos

52

Single Tax Withdrawal Surplus Free Disposal

53

Tax established in Article 42 bis No. 3 of the LIR withheld by the Insurance Company in the event of the death of the insured

54

Single Tax Second Category cases in which the employer, qualified or payer is released from withholding.
55

Single Income Tax

56

First Category Sporadic Rentals
57

Tax on donations

58

Sporadic income from the sale or disposal of underlying assets located in Chile
59

Difference between nominal and placement values of debt instruments

60

Withholding of accrued interest on LIR 104 debt instruments.
61

PPM First Category art. 84 and mining patent credit

62

PPM for Technical Assistance and PPM Volunteer
63

Tax period income refund

64 to 66

Tobacco Tax
67 to 69

Ad-Valorem Free Zone

70

Right of exploitation ENAP
71

Specific Tax Art. 43 ter, Law 18.892 Fishing license class A

72

Substitute tax on accumulated income, taxpayers subject to First Category tax on the basis of a balance sheet, according to accounting.
73

Substitutive tax on accumulated income

What means does the taxpayer have to file the return through Form 50?

It is possible to file the return by Form 50 through both electronic and physical means.

In case of electronic means, the return may be filed through the Internet and payment must be made through online payment, payment in agreement or payment in coupon. In the latter case, the taxpayer must print two copies of the coupon and go to a financial entity.

With respect to the physical means, it must be submitted on paper, a format that may be obtained at the offices of the IRS. Likewise, it may be presented on business days at banks, finance companies and authorized institutions.

What are the steps to be taken for the online Form 50 return?

In case the taxpayer files the Form 50 return through the Internet, he must have a Tax Code registered in the IRS systems.
Having this key, it will be possible to access the SII’s web site (www.sii.cl), locate the Online Services section, go to the “Monthly Taxes” menu, and click on Monthly Declaration (F50).

After that, the option to declare and pay the Form 50 must be selected, which will request the taxpayer to authenticate himself with the above-mentioned Tax Code and RUT or Digital Certificate.

Once this option is entered, the tax period to be declared “year and month” must be selected and the “Enter New Data” button must be pressed.

Once the form is located on the screen, it can be completed with the information related to the tax you wish to declare, and there are the buttons “Send Declaration”, “Save Form”, and “Clean Form” depending on what the user wishes to do.

In case you want to declare when you press the “Send Declaration” button, a message will appear indicating that no logical or mathematical error has been made, so you can proceed to pay the tax.

After the tax is paid, the digital certificate of presentation can be obtained.

How can I consult about the Form 50 submitted?

There are three means by which the taxpayer may consult the status of the Form 50, that is, through the SII’s web page, by contacting the SII’s “Telephone Help Desk” and by going to some of the Taxpayer Information and Assistance Centers.

In case you do it through the web page, you must enter the SII page, in its online section, monthly taxes menu, option “consultation and follow-up” (F29 and F50).

What are the penalties for late filing of taxes declared through Form 50?

Violations and fines for filing tax returns out of time are regulated by Article 97 of the Chilean Tax Code. Below are the sanctions by type of tax:

No. of Line of Form 50

Concept

Infringement

1 to 42

Additional Income Tax 97 N° 11
43 Specific Tax 1st Diesel Oil Sale

97 N° 2 inc.1

44

Specific Tax 1st Sale Automotive Gasolines 97 N° 2 inc.1
45 Specific Tax on First Sale of Automotive Gasoline 97 Octane

97 N° 2 inc.1

46

Compressed Natural Gas Vehicle Tax 97 N° 2 inc.1
47 Liquefied Petroleum Gas Vehicle Tax

97 N° 2 inc.1

48

Horseback Betting 97 N° 2 inc.1
49 Gambling Tax

97 N° 11

50

Casino Entrance Tax 97 N° 11
51 Tax 20% of the gross income of the casinos

97 N° 11

52

Single Tax Withdrawal Surplus Free Disposal
53 Tax established in Article 42 bis No. 3 of the LIR withheld by the Insurance Company in the event of the death of the insured

97 N° 2 inc.1

54

Single Tax Second Category cases in which the employer, qualified or payer is released from withholding. 97 N° 2 inc.2
55 Single Income Tax

97 N° 11

56

First Category Sporadic Rentals 97 N° 2 inc.1
57 Tax on donations

97 N° 2 inc.1

58

Sporadic income from the sale or disposal of underlying assets located in Chile 97 N° 2 inc.1
59 Difference between nominal and placement values of debt instruments

97 N° 11

60

Withholding of accrued interest on LIR 104 debt instruments. 97 N° 11
61 PPM First Category art. 84 and mining patent credit

97 N° 11

62

PPM for Technical Assistance and PPM Volunteer
63 Tax period income refund

97 N° 11

64 to 66

Tobacco Tax 97 N° 2 inc.1
67 to 69 Ad-Valorem Free Zone

97 N° 11

70

Right of exploitation ENAP 97 N° 2 inc.1
71 Specific Tax Art. 43 ter, Law 18.892 Fishing license class A

97 N° 2 inc.1

72

Substitute tax on accumulated income, taxpayers subject to First Category tax on the basis of a balance sheet, according to accounting.
73 Substitutive tax on accumulated income

In the case of infractions defined in numeral 11 of article 97, these are sanctioned with a fine of 10% of the taxes due.

With respect to the infractions typified in paragraph 1 of numeral 2 of article 97, they are sanctioned with a fine of 10% of the taxes resulting from the liquidation, provided that said delay or omission does not exceed 5 months.

In the case of subsection 2 of this same section, a fine of one monthly tax unit to one annual tax unit shall be imposed.

Likewise, it must be taken into consideration that the taxes on lines 1 to 42, 49, 50, 55, 67 and 69 of Form 50 are due until the twelfth day following the month in which the tax was withheld.

While those on lines 43, 44 and 45 have as legal deadline the first 10 business days following the week in which the transfers were made.

The only tax on scheduled withdrawals on surplus of free disposal from the Pension Funds (No. 52) is the only one that does not have any penalty so far.

It is recommended that taxpayers file their returns on Form 50 in an appropriate manner and within the deadlines, in order to avoid any tax contingency.

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