Crypto Tax in Chile to Starts in 2019

Starting this year, crypto investors in the South American nation of Chile, will have to start declaring and paying tax on their earnings last year, in 2018. Originally, the tax agency of Chile Servicio de Impuestos Internos SII, declared last year that cryptocurrencies were not subject to Value Added Tax (VAT). However, the tax agency also ruled that they should be considered income tax, which must be paid annually in April. Also reported by the Diario Bitcoin, the Chliean authorities, have included a section in its tax forms for cryptocurrencies, that need to be declared as “other own income and or third party income from companies that declare their effective income.”

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