The Tax Director, Felipe Salinas, was interviewed on the program Clave Morse about the increase in the withholding rate for Electronic Fee-Based Invoices, which began to apply as of January 1, 2024.
“The withholding rate for fee-based invoices is increasing progressively from 10% in 2020 to 17% in 2028, with the current rate at 13.75%. It is important to note that this change does not affect fee-based invoices issued by company directors for their duties, such as board fees. This is because the legislator assumes that directors generally have their social security situation covered, either through other sources of income or personal savings,” Felipe explained during the conversation with Javiera Quiroga and Diego Uribe.
Listen to the full interview starting at minute 6:12 here: