It Introduces Modifications To The Tributacia N Of The Mining Activity

Original Language Title: INTRODUCE MODIFICACIONES A LA TRIBUTACIÓN DE LA ACTIVIDAD MINERA

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"(Artículo 1°.-Introdúcense las siguientes modificaciones en la Ley sobre Impuesto a la Renta, contenida en el artículo 1° deel decreto ley N° 824, de 1974: 1) replace article 64 bis, by the following:" article 64 bis.-set a specific tax to the operational income of the mining activity obtained by an exploitative mining. ""

For the purposes of the provisions of this title shall mean: 1. mining operator, natural or legal person who extract minerals of concessionary character and sell them in any productive state in which they are found.

2. mining product, the mineral substance of concessionary character already extracted, whether or not been subject to benefit, in any productive state in which is situated.

3 sale, all legal acts celebrated by the exploitative mining which is intended or can produce the effect of transferring the ownership of a mining product.

4 mining operational income, all income determined in accordance with the provisions of article 29 of this law, deducting all those revenue that does not come directly from the sale of mining products, with the exception of the concepts outlined in the letter e) number 3) article 64 ter of this same Act.

5. mining operational taxable income, corresponds to the liquid, taxable income of the taxpayer with the adjustments referred to in article 64 ter of this law.

6 margin operational mining, the quotient, multiplied by one hundred, resulting from splitting income operational taxable mining by mining operational income of the taxpayer.

The tax referred to in this article shall apply to the mining operational taxable income of the exploitative mining according to the following: to) those mining exploiters whose annual sales determined according to the letter d) of this article, are equal or less than the value of 12,000 metric tons of fine copper, will not be subject to the tax.

((b) those mining exploiters whose annual sales determined in accordance with point (d)), are equal to or less than the value equivalent to 50,000 metric tons of fine copper and higher than the value of 12,000 metric tons of fine copper, is them a fee equivalent to the average per tonne resulting from applying the following: i) about the part that exceeds the value of 12,000 metric tons of fine copper and does not exceed the equivalent to 15,000 metric tons of fine copper, 0.5%;

II) over the part that it exceeds the value of 15,000 metric tons of fine copper and does not exceed the equivalent of 20,000 metric tons of fine copper, 1%;

III) over the part that it exceeds the value of 20,000 metric tons of fine copper and does not exceed the equivalent of 25,000 metric tons of fine copper, 1.5%;

IV) over the part that it exceeds the value of 25,000 metric tons of fine copper and does not exceed the equivalent of 30,000 metric tons of fine copper, 2%;

v) over the part that it exceeds the value of 30,000 metric tons of fine copper and does not exceed the equivalent of 35,000 metric tons of fine copper, 2.5%;

(vi) on the part that you exceed the value equivalent to 35,000 metric tons of fine copper and does not exceed the equivalent of 40,000 metric tons of fine copper, 3%, and vii) on the part exceeding the value equivalent to 40,000 metric tons of fine copper, 4.5%.

((c) those mining exploiters whose annual sales determined in accordance with point (d)) of this article, exceed the value equivalent to 50,000 metric tons of fine copper, applies to the rate applicable to the mining operational margin of the corresponding fiscal year, according to the following table: i) If mining operational margin is equal to or less than 35, the applicable rate will rise to 5%;

(ii) on the part of the mining operational margin that exceed 35 and do not exceed 40 applicable rate will rise to 8%;

(iii) on the part of the mining operational margin that exceed 40 and not more than 45 the rate will rise to 10.5%;

(iv) on the part of the mining operational margin that exceed 45 and not more than 50 applicable rate will amount to 13%;

(v) on the part of the mining operational margin that exceeds 50 and not more than 55 the applicable rate will be 15.5%;

VI) on the part of the Bank operational miner who exceed 55 and not to exceed the applicable rate of 60 will rise to 18%;

(vii) on the part of the mining operational margin that exceed 60 and not more than 65, the applicable rate will amount to 21%;

(viii) on the part of the mining operational margin which exceed 65 and does not exceed 70 applicable rate will rise to 24%;

(ix) on the part of the mining operational margin that exceeds 70 and not more than 75 applicable rate will rise to 27.5%;

(x) on the part of the mining operational margin that exceed 75 and not more than 80 applicable rate will rise to 31%;

((xi) on the part of the Bank operational miner who exceed 80 and does not exceed the applicable rate of 85 will rise to 34.5%, and xii) If mining operational margin exceeds 85 the applicable rate will be 14%.

((d) for the purposes of determining the applicable tax regime, it shall consider the total value of sales of mining products of all the people related to the mining operator, that can be considered exploitative mining according to the numeral 1), of the second paragraph of this article and that can carry out such sales.

Refers to related persons those referred to in paragraph 2), of article 34 of this law. For these purposes, in the fourth paragraph of this rule shall apply even in the event that the related person to be a permanent establishment, a Fund and, in general, any taxpayer.

The value of a metric ton of fine copper is determined according to the average value of the cash price that copper grade A, submitted during the respective period in the London Metals Exchange, which will be published, in national currency, by the Chilean copper Commission within the first 30 days of each year. "."

(2) adding, as follows from article 64 bis, the following article 64 ter, new: "article 64 ter-operational taxable mining income."

Mining operational taxable income, for the purposes of this article, which proves the following adjustments to the liquid, taxable income determined in articles 29 to 33 of this Act shall mean: 1. deduct all those revenue that does not come directly from the sale of mining products.

2. Add the expenses and costs required to produce the income referred to in the previous number 1. Common imputation of the mining operator expenses which are not assignable exclusively to a certain type of revenue, in the same proportion that represent the income referred to in the paragraph preceding the total of the gross income of the mining operator must also add.

3 Add, in case that has been deducted, the following amounts contained in article 31 of this law: to) the interests referred to in number 1 °, that article;

(b) losses from prior years that referenced the referred item number 3 °;

(c) the charge for accelerated depreciation;

(d) the difference exist, which occurs between the deduction of expenses for organization and implementation, within the meaning of the number 9° of article 31, amortized in a period of less than six years and the proportion that would have corresponded to deduct the depreciation of those expenses equally, within the period of six years. The difference that results from applying the provisions of this letter, are amortised in the time remaining to complete, in each case, the six exercises, and e) the consideration that is paid pursuant to a contract of avio, sale of minerals, lease or usufruct of a mining membership, or any other that has its origin in the delivery of the exploitation of a mineral deposit to a third party. Also need to add that part of the price of the purchase and sale of a mining membership that has been agreed as a percentage of the sales of mining products or utilities of the buyer.

4 deduct the annual depreciation fee for physical assets of the fixed assets which has corresponded not to apply the regime of accelerated depreciation.

5. in accordance with the provisions of articles 64 of the tax code and 38 of this law, in case of sales of mining products of the operator mining related persons resident or domiciled in Chile, for the purposes of determining the tax system, the rate, exemption and tax base to that referred to in this article, the internal revenue service in exercise of its powers, it can challenge the prices used in these sales. In this case, the internal revenue service must base its decision considering the reference prices of mining products to be determined by the Chilean copper Commission according to their legal powers. "."