Chile’s Internal Revenue Service (SII) has revised tax rates for small artisanal miners and mining SMEs engaged in gold and silver extraction and sales, with inflation-adjusted brackets linked to international metal prices and effective from 1 March 2026 to 28 February 2027.

RF Report

Chile’s Internal Revenue Service (SII) has issued Resolution No. 48 on 1 April 2026, updating the tax rates applicable to small artisanal miners and other SMEs engaged in the extraction and sale of gold and silver ores. Under the simplified single tax regime for small artisanal miners, revised rates apply to net revenues derived from the sale of gold and silver ores, as well as combined outputs involving these metals and copper.

This resolution establishes the updated tax rate scales for the mining sector based on international market values for the year 2026. The resolution details specific financial thresholds for gold and silver sales to determine the tax obligations for both small-scale artisanal miners and larger commercial mining entities. These rates are calculated by applying a 2.7% adjustment based on the United States Consumer Price Index to previous figures, ensuring the tax brackets remain current with global inflation.

For small artisan miners applying the simplified single tax (under Article 23 of the Income Tax Law), the tax rates applied to the net value of sales of gold, silver, and their combinations with copper are as follows:

Regarding gold:

  • 1% if the international price of gold does not exceed USD 1,118.44 per troy ounce.
  • 2% if the international price of gold is above USD 1,118.44 and does not exceed USD 1,789.40 per troy ounce.
  • 4% if the international price of gold exceeds USD 1,789.40 per troy ounce.

Regarding silver:

  • 1% if the international price of silver does not exceed USD 1,027.31 per kilogram.
  • 2% if the international price of silver is above USD 1,027.31 and does not exceed USD 1,643.72 per kilogram.
  • 4% if the international price of silver exceeds USD 1,643.72 per kilogram.

These specific scales for small artisan miners are effective from 1 March 2026 until 28 February 2027.

For other mining SMEs subject to the presumption of income (under Article 34 of the Income Tax Law), a different scale applies based on the average annual price of these minerals, with rates ranging from 4% to 20% depending on the price bracket of the gold (per troy ounce) or silver (per kilogram) during the respective tax year.

Earlier, in March 2025,  Chile’s Internal Revenue Service (SII) set new tax rates for small miners and SMEs involved in mining and selling gold and silver ore.