2026 Tax Filing Process:

Key Updates and Considerations

Accounting and tax teams are entering the final stage of the accounting closing process and tax determination, in a context where March marks the beginning of the affidavit filing process.

How does the filing system work? What are the new developments this year? What role do affidavits play in tax compliance?

These and other questions will be addressed in this edition.

1. 2026 Tax Filing Process

As every year, the Tax Filing Process (Operación Renta) is mainly associated with the submission of Form No. 22, whose deadline is April 30 when payment is due, and May 9 when a refund applies.

However, considering that this year the deadline falls on a Saturday, it is worth recalling that in previous years, when this has occurred, the deadline has been brought forward to May 8.

That said, it is essential to highlight that, as part of the annual filing process, the submission of affidavits (Declaraciones Juradas) constitutes a fundamental element. These filings are a key component for the Chilean Internal Revenue Service (SII), as they allow verification that the information reported by taxpayers is reasonably supported.

Likewise, affidavits play a decisive role for the individuals and entities related to each company, since the information reported allows them to correctly determine their own tax situation. For example, Affidavit No. 1887, regarding salaries and wages, is essential for employees to properly prepare their personal tax returns during April.

2. Recurring Affidavits

In this context, it is particularly important to understand how the filing system operates in Chile, distinguishing between two major categories of affidavits.

a) Affidavits Related to Personal Tax Determination

(Among the most relevant are the following:)

These affidavits are incorporated into the SII system and linked to the respective withholding agents that have paid income to each taxpayer. In practice, both individuals and companies arrive in April with information previously reported to the SII, giving rise to the well-known Form No. 22 Proposal.

What should taxpayers keep in mind?

First, do not rush.

Although affidavits must be submitted during March, it is not unusual for some companies to file late or amend information during the first days of April. Filing early without verifying possible updates may result in the use of incomplete or inaccurate information, generating inconsistencies that could later lead to audits or tax reviews.

Additionally, it is important to note that Affidavit No. 1932, at least until the previous tax year, was not always automatically incorporated into the Form No. 22 proposal for individuals. Consequently, taxpayers who received income reported through this affidavit and relied exclusively on the SII proposal were exposed to audit processes, potential tax differences, and penalties.

It should be remembered that through Affidavit No. 1932, companies must report income paid to third parties not covered by other specific affidavits, such as loan interest, certain gains from crypto-assets, or similar transactions.

Ultimately, before submitting the return, it is essential to verify that all withholding agents and all income received have been correctly included in the underlying information to avoid future contingencies.

b) Post-Tax Filing Affidavits

For many companies, the submission of Form No. 22 does not mark the end of annual tax compliance. During May and June, several additional affidavits must be filed as an integral part of the process.

Although income has already been reported, these obligations are essential for the SII to properly perform its audit function and determine, based on the reported information, which taxpayers will be subject to review.

Some of the most common affidavits include:

3. New Affidavits

In a typical tax year without major reforms, it is common for one or two new affidavits to be incorporated into the system. However, this year the number has been significantly higher, with five new affidavits added to the process.

Highlights

Affidavit No. 1961 – Assets Delivered under Operating or Financial Leasing

On July 3, 2024, Law No. 21.680 created the Consolidated Debt Registry (REDEC), which requires certain entities — including leasing companies meeting specific conditions — to report information related to customer debt and other background information. The introduction of this affidavit marks the beginning of formal compliance obligations for these entities.

Affidavit No. 1962 – Information Regarding Investment Funds

Although this information had previously been reported through Affidavit No. 1922, starting this year the obligation has been divided into two separate filings. Affidavit No. 1922 will continue reporting information required for investors’ taxation, while the new Affidavit No. 1962 will provide more general or complementary information.

This raises the question of whether the separation reflects a possible increase in SII audit activity or simply a desire to organize and simplify compliance obligations. The answer will likely become clear over time.

Ultimately, the recommendation is clear: prepare in advance, carefully review the affidavits each company must submit, and properly assess the required compliance obligations to avoid surprises resulting from the sustained increase in filings over recent years.

Entrepreneurial Salary: New Clarifications from the SII

The so-called “entrepreneurial salary” refers to the compensation received by an owner, partner, or shareholder who provides services to their own company.

At first glance, its treatment may seem straightforward: the individual works, receives compensation, and pays taxes under the Second Category Single Tax or the Global Complementary Tax if additional income such as dividends or withdrawals is received.

However, the tax treatment of entrepreneurial salary has been subject to several clarifications and developments over time.

Main Developments

Prior to Law No. 21.210

Entrepreneurial salary was accepted as a deductible expense only up to the cap for social security contributions in limited liability companies.

Law No. 21.210 (2020)

This law amended Article 31, paragraph four, No. 6 of the Income Tax Law, eliminating the previous cap.

Does this mean entrepreneurial salary became unlimited?

Not exactly. The deductible amount must still comply with the principles of reasonableness and market value. In other words, compensation cannot exceed what would be paid to an unrelated employee performing similar functions in a comparable company.

This represents a substantial conceptual shift: entrepreneurial salary is no longer viewed merely as a mechanism to finance social security contributions, but rather as recognition of the partner as an actual worker within the organization.

Additional SII Rulings

• Retired partners may receive entrepreneurial salary as a deductible expense.
• Any partner or shareholder working for the company and receiving compensation must be taxed under employment income rules.
• There is no minimum amount for entrepreneurial salary.
• Certain benefits may be included if proportional and reasonable.
• Entrepreneurial salaries must generally be reported in the electronic payroll book.

Ruling No. 146 (January 21, 2026)

The SII clarified that transportation and meal allowances paid to shareholder-partners receiving entrepreneurial salary cannot be treated as non-taxable income. Instead, they must be included as taxable compensation.

The ruling also clarifies that since shareholder-partners are not legally considered “employees” due to the absence of subordination and dependency, severance payments upon termination would not be deductible expenses.

In summary, entrepreneurial salary must align with market value standards and cannot include benefits exceeding what would reasonably be paid to an unrelated worker.

The Fintech Law in Chile

In 2023, Law No. 21.995 — known as the Fintech Law — was enacted, establishing a modern regulatory framework for financial technology companies aimed at improving legal certainty, consumer protection, and transparency.

Inspired by international standards, the Fintech Law includes clear definitions regarding crowdfunding platforms, virtual assets, and tokens, as well as obligations related to corporate governance, risk management, and anti-money laundering.

What Does This Law Mean for Companies?

For entities already operating in the financial sector — and for those wishing to enter the market as Fintech service providers — the regulation brings both opportunities and obligations:

• Registration and formalization before the Financial Market Commission (CMF)
• Transparency and risk-based internal control requirements
• Regulated framework for digital assets and digital intermediation activities
• AML/CFT compliance obligations aligned with international standards

Although these developments are highly positive for consolidating a competitive market, they also create significant challenges in terms of organizational readiness, operational transformation, and regulatory compliance.

Recent CMF Updates

The CMF has introduced several updates, including:

• Extension of implementation deadlines for Open Finance regulations until July 2027
• Technical adjustments reducing required historical information from 24 to 12 months
• Expansion of the Financial Service Providers Registry
• New rules regarding user consent and cybersecurity standards
• Integration of digital assets into the formal financial market

What Should Companies Consider?

Companies subject to the Fintech Law should prepare in the following areas:

• Regulatory compliance assessments
• Implementation of internal control systems
• AML/CFT compliance programs
• Risk management and internal audit functions
• Corporate governance strengthening

The implementation of the Fintech Law in Chile represents the incorporation of a risk-based regulatory regime designed to supervise and regulate technological financial services under the oversight of the Financial Market Commission (CMF), consolidating Chile as an innovation hub for financial services in Latin America.

The convergence of regulation, technology, and risk management best practices is key to strengthening market confidence and attracting investment.