Chile's Internal Revenue Service (SII) has issued Resolution No. 88 and Circular No. 27 to establish a daily late tax payment interest rate of 0.0213888889% for the second half of 2026 and introduce an updated forgiveness policy offering partial relief of up to 75% on late payment interest, effective 1 July 2026.
Chile’s Internal Revenue Service (SII) has issued two key updates—Resolution No. 88 of 26 June 2026 and Circular No. 27 of 23 June 2026—to establish the late tax payment interest rates for the second half of 2026 and outline updated forgiveness policies aimed at encouraging timely tax compliance.
New late payment interest rates (Resolution No. 88)
Resolution No. 88 sets the daily interest rate for late tax payments for the second semester of 2026. Following the implementation of the Law on Compliance with Tax Obligations (Law No. 21.713), the penalty for late payments transitioned to a market interest rate incremented by 3.5%, calculated on a daily basis.
For the period spanning from 1 July 2026 to 31 December 2026, the daily interest rate is set at 0.0213888889%. This marks a decrease from the rates applied during the first half of the year under Resolution No. 205 of 30 December 2025. The new rate is calculated by taking the base interest rate of 4.20%, published by the Financial Market Commission in June 2026, adding the 3.5% statutory increment, and dividing the total (7.70%) by 360.
Resolution No. 88 is effective from 1 July 2026, and the interest will be applied at the rate in force at the time of actual payment, regardless of the date on which the underlying taxable event occurred.
Updated forgiveness policy for late interest (Circular No. 27)
In tandem with the new rates, the SII published Circular No. 27 on 23 June 2026 to update the policy for late payment interest forgiveness. Designed to promote timely compliance, this policy provides partial forgiveness applied exclusively to the 3.5% increment portion of the late payment interest.
The percentage of forgiveness depends directly on how long the payment has been delayed:
- 1 to 3 months: 75% forgiveness
- 4 to 12 months: 55% forgiveness
- 13 to 18 months: 30% forgiveness
- 19 to 24 months: 15% forgiveness
- Over 24 months: 0% forgiveness
An additional 5% forgiveness is granted if the outstanding tax debt is paid in full, provided the settled debt corresponds to more than one tax assessment (folio), and none of those assessments is older than 24 months.
Forgiveness for tax fines
Circular No. 27 also sets forth a forgiveness schedule for fines resulting from late or non-submission of tax returns, as well as the late remittance of taxes subject to withholding or surcharge. For these infractions, the forgiveness policy operates on a slightly different scale:
- 1 to 3 months: 70% forgiveness
- 4 to 12 months: 50% forgiveness
- 13 to 18 months: 30% forgiveness
- 19 to 24 months: 20% forgiveness
- Over 24 months: 0% forgiveness
Exclusions from forgiveness
The Circular establishes strict exclusions. Taxpayers will not be eligible for these forgiveness benefits if they:
- Are subject to proceedings for the civil collection of taxes.
- Possess unjustified tax documents or antecedents that suggest irregular advantages.
- Are charged with, denounced for, or have been convicted of tax crimes.
