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Selling listed Chilean shares: the 10 percent single tax in 2026, non taxable from 2027, and broker withholding for non residents

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

Gains on shares of Chilean open corporations with stock market presence, sold on a Chilean exchange or in a tender offer and bought in a qualifying way, pay a 10 percent single tax on sales made in 2026. From 1 January 2027, Ley Nº 21.850 makes those gains non taxable. For non resident sellers in 2026 the buyer or broker withholds 10 percent of the gain, or 1 percent of the price if it lacks the cost data, and foreign institutional investors already pay nothing.

USD figures use the Central Bank exchange rate of CLP 986.58 per US dollar published in the Diario Oficial for 23 October 2026 (CNCI Chapter I, Title VII). UF and UTA values are the SII figures for October 2026 (UF 41,221.08 on 26 October; UTA CLP 865,812). Conversions are for orientation only.

Key facts

Single tax on qualifying listed share gains, sales up to 31 December 2026	10 %DL Nº 824, art. 107 Nº 1, as of 2026-10-26 · in force
Tax on qualifying listed share gains from 1 January 2027	0 %Ley Nº 21.850, art. 8 Nº 4; ninth transitory art. Nº 3, as of 2026-10-26 · pending
Provisional broker withholding on price when gain is unknown (2026)	1 %DL Nº 824, art. 107 Nº 6, as of 2026-10-26 · in force
Days after losing stock market presence during which a sale still qualifies	90 daysDL Nº 824, art. 107 Nº 4, as of 2026-10-26 · in force

The rule

1. Gains on shares of Chilean open corporations with stock market presence pay a 10 percent single income tax when the sale is made on a Chilean stock exchange authorized by the CMF, in a tender offer under Title XXV of Ley Nº 18.045, or in a contribution under art. 109, and the shares were bought on a Chilean exchange, in a tender offer, in a first issue placement at incorporation or a capital increase, in an exchange of convertible public offer securities, or in an art. 109 redemption. The same treatment covers qualifying sales of investment fund and mutual fund quotas.
Cost to do it: 10 percent of the gain on qualifying sales made up to 31 December 2026.
Example: A qualifying 2026 gain of CLP 49,329,000 bears CLP 4,932,900 of tax. / US$50,000 of qualifying gain bears US$5,000 in 2026.Decreto Ley Nº 824, Ley sobre Impuesto a la Renta, Art. 107 Nº 1 letters a) and b), Nº 2 and Nº 3, 1974-12-31 official text · verified 2026-10-26

2. From 1 January 2027 the qualifying gains under art. 107 Nº 1, the fund quota cases of Nº 2 and Nº 3, and the 90 day post delisting case of Nº 4 no longer bear the 10 percent single tax and are non taxable income. The paragraphs on loss offsetting are rewritten, and Nº 6 to Nº 9 (withholding, cost rules, effects of payment and the institutional investor rule) are repealed.
Cost to do it: Nil tax on qualifying gains from 1 January 2027.
Example: The same CLP 49,329,000 gain realized in January 2027 bears no tax. / US$50,000 of qualifying gain realized from 2027 bears no Chilean tax.Ley Nº 21.850, for national reconstruction and economic and social development, Art. 8 Nº 4 and ninth transitory article Nº 3, 2026-10-17 official text · verified 2026-10-26 · changed: Ley Nº 21.850, published in the Diario Oficial on 17 October 2026, makes qualifying listed share gains non taxable from 1 January 2027.

3. For a seller with no domicile or residence in Chile, the buyer, or the stockbroker or securities agent acting for the seller, withholds the single tax when the price is paid, remitted, credited or made available: 10 percent of the gain, or a provisional 1 percent of the total price if it lacks the information to determine the gain. The withholding is paid within the art. 79 deadline and credited against the seller's tax. Non residents must use the actual acquisition or contribution value, not the year end closing price option open to residents.
Cost to do it: 10 percent of the gain, or 1 percent of the price provisionally, withheld by the broker in 2026.
Example: A non resident sells for CLP 197,316,000 through a broker that has no cost data: the broker withholds CLP 1,973,160. / On a US$200,000 sale, provisional withholding at 1 percent is US$2,000; with cost data and a US$50,000 gain it is US$5,000.Decreto Ley Nº 824, Ley sobre Impuesto a la Renta, Art. 107 Nº 6 and Nº 7, 1974-12-31 official text · verified 2026-10-26 · changed: Repealed from 1 January 2027 by Ley Nº 21.850 art. 8 Nº 4 letter f).

4. Gains obtained by institutional investors, whether domiciled in Chile or abroad, on securities that meet the art. 107 requirements are non taxable. Institutional investors are those defined in art. 4 bis letter e) of Ley Nº 18.045.
Cost to do it: Nil tax for qualifying institutional investors.Decreto Ley Nº 824, Ley sobre Impuesto a la Renta, Art. 107 Nº 9, 1974-12-31 official text · verified 2026-10-26 · changed: Repealed from 1 January 2027 by Ley Nº 21.850, when qualifying gains become non taxable for all sellers.

5. If the shares were acquired before their placement on the exchange, only the gain above the higher of the placement price and the book value on the day before placement qualifies; the gain from the original adjusted cost up to that value is taxed under the general rules of art. 17. Where a share loses stock market presence, a sale within 90 days still qualifies, but only up to the average price of the last 90 days with presence; the excess is taxed under the general rules.
Cost to do it: General rules (for a non resident, the art. 74 Nº 4 withholding of 10 percent of price or 35 percent of gain) on the non qualifying part.
Example: A founder who invested CLP 98,658,000 before an IPO priced its stake at CLP 493,290,000 and sells for CLP 690,606,000: CLP 394,632,000 is taxed under the general rules and CLP 197,316,000 under art. 107. / Cost US$100,000, IPO value US$500,000, sale US$700,000: US$400,000 is outside art. 107 and US$200,000 inside it.Decreto Ley Nº 824, Ley sobre Impuesto a la Renta, Art. 107 Nº 1 letter c) and Nº 4, 1974-12-31 official text · verified 2026-10-26

Item	Sale in 2026	Sale from 1 January 2027
Gain US$50,000 (CLP 49,329,000)	Tax 10 percent: US$5,000 (CLP 4,932,900)	Non taxable: 0
Broker without cost data, price US$200,000	Provisional 1 percent: US$2,000 (CLP 1,973,160)	No withholding rule
Institutional investor	Non taxable	Non taxable

Qualifying listed share gain of a non resident, 2026 versus 2027 (DL Nº 824 art. 107; Ley Nº 21.850 art. 8 Nº 4). CLP at 986.58.

Worked example

A foreign individual bought shares of a Chilean open corporation on the Santiago exchange and sells them there for US$200,000 (CLP 197,316,000) with a gain of US$50,000 (CLP 49,329,000).
If the sale settles in December 2026 the gain bears the 10 percent single tax, US$5,000 (CLP 4,932,900), withheld by the broker; without cost data the broker withholds 1 percent of the price, US$2,000 (CLP 1,973,160), and the seller settles the balance in its return (DL Nº 824 art. 107 Nº 6).
If the same sale settles in January 2027 the gain is non taxable (Ley Nº 21.850 art. 8 Nº 4 and ninth transitory article Nº 3), so timing alone removes the tax.
An off exchange private sale of the same shares does not meet art. 107 and falls under the general withholding of 10 percent of price or 35 percent of gain (art. 74 Nº 4).

Step by step

1. Confirm the shares have stock market presence and that both the purchase and the sale fit the art. 107 qualifying channels.
2. For 2026 sales, give the broker the acquisition cost so it withholds on the gain and not 1 percent of the price (art. 107 Nº 6).
3. For pre IPO shares, compute the split between the general rules part and the art. 107 part (art. 107 Nº 1 c).
4. Consider whether settling on or after 1 January 2027 removes the tax (Ley Nº 21.850).
5. Remit proceeds through the formal FX market as required by the FX Compendium.

Common traps

Shares bought off exchange in a private deal do not qualify even if later sold on the exchange (art. 107 Nº 1 b).
Block sales negotiated privately and not executed on an exchange or in a tender offer do not qualify (art. 107 Nº 1 a).
For pre IPO shares, only the gain above the IPO price or book value qualifies, also after 2027 (art. 107 Nº 1 c, as amended).
A share that loses presence qualifies only for 90 days and only up to the recent average price (art. 107 Nº 4).

Sources

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