Accrued taxes fell by 9.7% in real terms compared to the previous year, decreasing from US$17.513 billion to US$15.818 billion. The end of the substitute tax on FUT may have also had an influence.
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Although the Chilean economy did not contract in 2023, it stagnated at 0.2%. This figure had an impact on the results of the 2024 Tax Filing Process, which reflected the productive activity of the previous fiscal year.
According to statistics from the Internal Revenue Service (SII) on the final figures of the process, total taxes decreased by 9.7% in real terms compared to the previous year, dropping from US$17.513 billion to US$15.818 billion, equivalent to a reduction in revenue of US$1.695 billion.
Factors that influenced:
Javier Jaque, Lead Partner at CCL Auditores Consultores, agrees on the impact that the virtually zero GDP growth in 2023 had on tax collection. “The decline observed in First Category tax revenue would be due to a decrease in the taxable base, and the base is nothing other than income, value creation. This would have an effect on lower revenues for companies and potentially higher costs,” he adds.