Chile’s Internal Revenue Service (SII) has issued Circular No. 24 of 28 March 2025, setting new tax rates for small artisan miners and SMEs involved in copper mining and sales.
Small artisan miners tax rates
For small artisan miners using the simplified single tax, the rates on net revenue from copper sales are:
- 1% if the international copper price is up to USD 3.97/pound;
- 2% if the price is over USD 3.97/pound but does not exceed USD 5.1049/pound;
- 4% if the price exceeds USD 5.1049/pound.
For minerals that do not contain copper, gold, or silver, small-scale artisan miners are subject to a flat 2% rate on the net sales value.
For SMEs miners tax rates
For SMEs using the presumptive tax regime, tax rates based on annual net revenue from copper sales are:
- 4% if the average price is up to USD 3.7425/pound;
- 6% if the price is above USD 3.7425/pound but not over USD 3.97/pound;
- 10% if the price is above USD 3.97/pound but not over USD 4.5369/pound;
- 15% if the price is above USD 4.5369/pound but not over USD 5.1049/pound;
- 20% if the price exceeds USD 5.1049/pound.
SMEs are subject to a flat 6% rate on the net sales value for minerals that do not contain copper, gold, or silver.
The simplified single tax rates for small artisan miners will be effective from 1 March 2025 to 28 February 2026. The presumptive tax regime rates for SMEs will apply to the 2025 tax year.
Earlier, SII issued Resolution No. 33 of 13 March 2025, which sets new tax rates for small miners and SMEs involved in mining and selling gold and silver ores.
