Chile Cryptocurrency Tax

Chile does not have specific cryptocurrency legislation, but the SII has clarified that crypto transactions are subject to existing tax rules. Gains from buying and selling cryptocurrency are treated as income and subject to personal income tax at progressive rates up to 40%. If crypto transactions constitute a habitual business activity, income is taxed as commercial profits. Crypto gains may potentially qualify for capital gains treatment under certain conditions. Taxpayers must report crypto holdings and transactions in their annual tax return. Chile has been developing regulatory frameworks for crypto assets, and the SII has been increasing enforcement.