Tax administration has issued Ruling 1016 of 14th April 2015 which explains the tax treatment of gains from the alienation of shares issued by joint-stock companies incorporated in Chile. Those gains are omitted from income tax, inter alia, under the situations given by article 107 of the Income Tax Law (ITL). This ruling mainly focuses an environment if shares are sold by a foreign shareholder who has more than 95% of the company shares.
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