Tuesday , February 7 2023

Congress adopts law to allow carriers to retain specific tax refunds by 2022 | economy



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The Senate Chamber has issued a bill that seeks to prolong the partial reimbursement of the specific freight charge.

More specifically, it is an initiative that has entered into force since 2015 and was agreed by December 31, 2018.

After approval in both rooms, the project will allow extending the tax benefit for four years, until 31 December 2022.

In this way, the carriers, almost 27,000 companies and persons related to freight transport – as Finance Minister Felipe Larrain said – they will be able to maintain this privilege.

Specifically, partial reimbursement of the specific tax applies when carriers submit their diesel fuel bills on their monthly tax return, the coverage of which depends on the level of the company or person's income and is gradually divided into four sections:

1) 80% for taxpayers whose annual income was equal to or lower than 2,400 development units (66.1 million pesos).

2) 70% for taxpayers whose annual income was more than 2 400 and does not exceed 6,000 development units (165.3 million pesos).

3) 52.5% for taxpayers whose annual income exceeded 6,000 and did not exceed 20,000 development units (551 million pesos).

4) 31% for taxpayers whose annual income exceeded 20,000 development units.

* UF of 27,559 peso on January 16, 2019.

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