Good news from Abuid Tax & Legal.

Law 21.716, published in the Chilean Official Gazette on November 13, 2024, extended the deadline to access full (100%) forgiveness of interest and penalties on tax debts originated through December 31, 2023. The new deadline expires on February 11, 2025, and benefits both individuals and legal entities.

This benefit was originally set to expire on October 31, 2024, in accordance with Transitional Article 13 of Law 21.713 of 2024, titled "On compliance with tax obligations within the pact for economic growth, social progress, and fiscal responsibility".

The exceptional forgiveness applies both to lump-sum payments and to instalment agreements with the General Treasury of the Republic (TGR Chile), whether all outstanding assessments are settled or only some. These agreements may be entered into for up to 48 monthly instalments, and no further interest or penalties will accrue during their term.

Circular No. 119 of 2024 issued by TGR Chile regulates these benefits. The instructions also cover special payment options applicable to administrative fines.

It is worth noting that the Circular was published prior to Law 21.716, so the October 31, 2024 deadline mentioned in the Circular is no longer in force and should be read as February 11, 2025.

If you would like to review any aspect in further detail, you can write to us at contacto@abuid.cl.