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Annual compliance for Chilean companies: books, monthly VAT return, April income tax return, shareholder meetings, municipal licence and filings

Last verified: 2026-10-26 · Status: Stable

Once running, a Chilean company keeps its books in Spanish and in pesos (dollar books are possible with SII authorization), closes its year on 31 December, files a monthly VAT return by the 12th or the 20th if it invoices electronically, and files its annual income tax return in April. A corporation must hold its ordinary shareholders' meeting within four months of year end, a branch must publish its balance sheet within four months, and every business pays a municipal licence of 2.5 to 5 per thousand of equity each July and January. Changes of shareholders, managers or capital go to the SII within two months.

USD figures use the dólar observado of CLP 972.60 per US dollar for 1 October 2026, the latest value in the SII dólar observado table on 26 October 2026. The UF is CLP 41,221.08 for 26 October 2026 (SII UF table) and the UTM is CLP 72,151 and the UTA CLP 865,812 for October 2026 (SII UTM table). Conversions are for orientation only.

Key facts

Monthly VAT return and payment deadline	12 day of monthDL Nº 825, art. 64, as of 2026-10-26 · in force
Monthly VAT deadline for online filers authorized to issue electronic documents	20 day of monthDecreto Nº 1.001 of 2006, art. 1, cited in DL Nº 825 art. 64, as of 2026-10-26 · in force
Average annual turnover cap to defer VAT payment by two months	100000 UFDL Nº 825, art. 64, as of 2026-10-26 · in force
Month of the annual income tax return	April textDL Nº 824, art. 69, as of 2026-10-26 · in force
Statutory balance sheet date	31 December (30 June if authorized) textCódigo Tributario, art. 16, as of 2026-10-26 · in force
Months after the balance sheet date to hold the ordinary meeting	4 monthsLey Nº 18.046, art. 58, as of 2026-10-26 · in force
Minimum annual municipal licence rate on equity	2.5 per thousandDL Nº 3.063, art. 24, as of 2026-10-26 · in force
Maximum annual municipal licence rate on equity	5 per thousandDL Nº 3.063, art. 24, as of 2026-10-26 · in force
Annual municipal licence floor	1 UTMDL Nº 3.063, art. 24, as of 2026-10-26 · in force
Annual municipal licence ceiling	8000 UTMDL Nº 3.063, art. 24, as of 2026-10-26 · in force
Unidad Tributaria Mensual, October 2026	72151 CLPSII UTM table 2026, as of 2026-10-01 · in force
Unidad Tributaria Mensual, November 2026	72440 CLPSII UTM table 2026, as of 2026-11-01 · in force

The rule

1. Taxpayers keep their accounts, file returns and pay taxes in national currency, but the SII may authorize by resolution accounts in foreign currency, for example where foreign trade operations in that currency justify it or where capital was contributed from abroad or debts were mainly contracted abroad in foreign currency. Books must be kept in Spanish and kept with their supporting documents for as long as the SII may still review the returns. Balance sheets cover twelve months and are drawn up at 31 December, although the Regional Director may authorize a 30 June close in particular cases.
Example: A Chilean SpA funded by a US parent with US dollar capital can ask the SII for authorization to keep its books in dollars (art. 18 Nº 2 b). / Dollar books avoid translating a US$5 million capital base into pesos every month, but need prior SII authorization.Código Tributario (DL Nº 830), Art. 16, art. 17 and art. 18, 1974-12-31 official text · verified 2026-10-26

2. Taxpayers subject to VAT must pay by the 12th of each month the taxes accrued in the previous month, filing at the same time a sworn declaration of the month's total operations, including exempt ones. Taxpayers who file online and are authorized to issue electronic tax documents have until the 20th of each month under art. 1 of Decreto Nº 1.001 of 2006 of the Ministry of Finance. Taxpayers under the SME regime or the general accounting regime whose average annual turnover in the last three calendar years does not exceed 100,000 UF may postpone full payment of a month's VAT by up to two months if they meet the conditions of the article.
Cost to do it: Filing is free; interest and fines apply on late VAT.
Example: October 2026 VAT is due by 12 November 2026, or by 20 November 2026 for an electronic invoicer filing online. / A company with average turnover below UF 100,000 (about CLP 4,122 million, US$4.24 million) may qualify to defer VAT payment by two months.Ley sobre Impuesto a las Ventas y Servicios (DL Nº 825); Decreto Nº 1.001 of 2006, Ministry of Finance, DL Nº 825 art. 64; Decreto Nº 1.001 art. 1, 1974-12-31 official text · verified 2026-10-26

3. First category taxpayers file a sworn annual income return for income accrued or received in the previous calendar or commercial year, in April of each year. Taxpayers whose balance sheet is drawn up in June file in October of the same year, and those terminating their business file when the Código Tributario provides.
Example: Income of commercial year 2026 is declared in April 2027. / A June year end company files in October instead; rates and credits are covered on the tax pages.Ley sobre Impuesto a la Renta (DL Nº 824), Art. 65 Nº 1 and art. 69, 1974-12-31 official text · verified 2026-10-26

4. Corporations draw up their balance sheet each year at 31 December or the date in the bylaws; the board must present a reasoned annual report with the balance sheet, profit and loss statement and the auditors' or inspectors' report to the ordinary meeting, which the board must call within the four months after the balance sheet date and which must be announced at least three times in the chosen newspaper at least ten days in advance. A closed corporation's meeting must appoint inspectors or external auditors each year unless the bylaws exempt it. In a closed corporation, the annual report and balance sheet are sent only to shareholders who ask for them. An SpA follows its bylaws and, where silent, the closed corporation rules.
Example: With a 31 December 2026 year end, the ordinary meeting must be held by 30 April 2027.Ley Nº 18.046; Código de Comercio, Ley Nº 18.046 art. 51, art. 58, art. 59, art. 74 and art. 75; Código de Comercio art. 424, 1981-10-22 official text · verified 2026-10-26

5. The agent of a foreign company's branch must publish the branch's annual balance sheet in a newspaper of its domicile within the four months after the year end, and repeat the registration and publication formalities for any change in the filed documents or declarations.Ley Nº 18.046; Código de Comercio, Ley Nº 18.046 art. 124; Código de Comercio art. 450, 2009-10-20 official text · verified 2026-10-26

6. Every profession, trade, industry, commerce or other secondary or tertiary profit making activity pays a municipal licence (patente), and investment companies that hold assets producing income are also covered. The licence for twelve months is set by each municipality between 2.5 and 5 per thousand of the taxpayer's equity (capital propio), with a minimum of 1 UTM and a maximum of 8,000 UTM. Equity is the initial capital declared for new activities, or that shown in the balance sheet at the preceding 31 December; the SII sends each municipality the declared equity in May. The licence covers 1 July to 30 June and may be paid at once or in two equal instalments in July and January, the second adjusted by CPI; a taxpayer that starts after 31 December pays 50 percent. Moving the head office or a branch to another municipality must be notified to the new one within 30 calendar days.
Cost to do it: 2.5 to 5 per thousand of equity a year; minimum 1 UTM (CLP 72,151, US$74.18), maximum 8,000 UTM (CLP 577,208,000, about US$593,469) at October 2026 UTM.
Example: An SpA with equity of CLP 486,300,000 at 31 December 2026 in a municipality charging 5 per thousand pays CLP 2,431,500 for July 2027 to June 2028, or two instalments of CLP 1,215,750 in July 2027 and January 2028, the second adjusted by CPI. / About US$2,500 a year on equity of about US$500,000 at the maximum rate.Decreto Nº 2.385 of 1996, consolidated text of DL Nº 3.063 (Ley de Rentas Municipales), Art. 23, art. 24 and art. 29, 1996-11-20 official text · verified 2026-10-26

7. The municipality must grant the licence immediately once all required permits are filed or verified, and must grant a provisional licence immediately where zoning, sanitary authorization (or its application, where allowed) and special law permits are in place; provisional licences convert into final ones if the municipal works department raises no observations within 30 calendar days, and requirements must be met within at most one year. Anyone starting a licensed activity files a simple sworn declaration of its equity with the application.Decreto Nº 2.385 of 1996 as amended by Ley Nº 20.494, Art. 26, 2011-01-27 official text · verified 2026-10-26

8. Within two months of the change, or of its registration in the Commercial Registry, companies must report to the SII through the electronic tax folder changes to their start of activities data and changes of representatives with general powers, capital, profit sharing agreements, partners or shareholders, mergers, divisions and transformations; late or missing reports are fined from 1 UTM to 1 UTA. Companies in the online registry must also file a digital copy of the minutes of any shareholders' meeting approving amendments within 30 calendar days.
Cost to do it: Fine of CLP 72,151 to CLP 865,812 (US$74 to US$890) at October 2026 values for late reports.Código Tributario art. 68 and art. 97 Nº 1; Ley Nº 20.659 art. 14, Código Tributario art. 68 and art. 97 Nº 1; Ley Nº 20.659 art. 14, 2024-10-24 official text · verified 2026-10-26

When	What	Who	Source
Monthly, by the 12th (20th for online electronic invoicers)	VAT return and payment for the previous month	VAT taxpayers	DL Nº 825 art. 64; Decreto Nº 1.001 of 2006
Within 2 months of any change	Report changes of shareholders, managers, capital and others to the SII	All companies except open S.A. for shareholder changes	Código Tributario art. 68
31 December	Balance sheet date	All	Código Tributario art. 16; Ley Nº 18.046 art. 74
January	Second municipal licence instalment, CPI adjusted	Licensed businesses	DL Nº 3.063 art. 29
April	Annual income tax return for the prior year	First category taxpayers	DL Nº 824 art. 69
By 30 April	Ordinary shareholders' meeting; branch balance sheet newspaper publication	S.A. (and SpA if bylaws or supplementary rules require); branches	Ley Nº 18.046 art. 58 and art. 124
July	Municipal licence, in full or first instalment	Licensed businesses	DL Nº 3.063 art. 29
At least yearly	Refresh beneficial ownership declarations with banks	Bank clients	UAF Circular Nº 62 of 2025, f.2

Compliance calendar for a Chilean company with a 31 December year end (sources in the rules above)

Worked example

A Chilean SpA owned by a Peruvian group closes 2026 with equity of CLP 486,300,000 (about US$500,000). It filed VAT every month by the 20th as an electronic invoicer (DL Nº 825 art. 64; Decreto Nº 1.001 of 2006), and files its 2026 income return in April 2027 (DL Nº 824 art. 69).
In July 2027 it pays its first municipal licence instalment of CLP 1,215,750 (5 per thousand, half of CLP 2,431,500), with the CPI adjusted second instalment due in January 2028 (DL Nº 3.063 art. 24 and art. 29). When the group appoints a new general manager in August 2027, it reports the change to the SII by October 2027 (Código Tributario art. 68).

Step by step

1. Set the year end (31 December unless the SII authorizes 30 June) and decide whether to request authorization for dollar accounts (Código Tributario art. 16 and art. 18).
2. Diarize the monthly VAT deadline: the 12th, or the 20th if filing online as an electronic invoicer (DL Nº 825 art. 64).
3. Prepare year end financial statements and, for an S.A., call the ordinary meeting with newspaper notices and hold it by 30 April (Ley Nº 18.046 art. 58 and art. 59).
4. File the annual income return in April (DL Nº 824 art. 69).
5. Pay the municipal licence in July and January and update the municipality on moves within 30 days (DL Nº 3.063 art. 29).
6. Report corporate changes to the SII within two months and, for online companies, file meeting minutes in the registry within 30 days (Código Tributario art. 68; Ley Nº 20.659 art. 14).

Common traps

Assuming a holding company is exempt from the municipal licence: investment companies are expressly covered (DL Nº 3.063 art. 23).
Keeping dollar books without SII authorization; the default is pesos (Código Tributario art. 18).
Missing the 20th: the extended VAT deadline only applies to online filers authorized to issue electronic documents.
For an S.A., an ordinary meeting not called within four months of year end breaches art. 58, and shareholders with 10 percent can call it themselves in a closed corporation.
Starting operations after 31 December halves the first licence, but moving municipality without notice within 30 days risks double charges (DL Nº 3.063 art. 29).

Sources

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