A Tale Of Two Kings
When the King of Rock and Roll died in August 1977, his estate was valued at...
Read moreKathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.
You become tax resident in Chile if you spend more than six months in-country or are domiciled in Chile. If you are a nonresident, you pay taxes in Chile only on your income generated within the country.
Chile taxes on worldwide income. But, as a new resident, you will pay tax only on Chilean income for the first three years, which can be extended for an additional three years.
Chile does not tax pensions, retirement benefits, or social security.
The sales tax (known as IVA) is 19%, and applies to many valueadded items. While you may structure your affairs to minimize other taxes here, you won’t escape IVA.
For wage earners, the regular income tax is graduated between 0% and 40%. Here’s a snapshot of the tax table, represented in U.S. dollars, at today’s exchange rate of 620 pesos per U.S. dollar. These are monthly income figures (exclusive of retirement and pension income):
Start Your New Life Today, Overseas
From | To | Tax Percentage |
---|---|---|
$ – | $ 938.00 | 0% |
$ 938.00 | $ 2,084.00 | 4% |
$ 2,084.00 | $ 3,473.00 | 8% |
$ 3,473.00 | $ 4,863.00 | 14% |
$ 4,863.00 | $ 6,252.00 | 23% |
$ 6,252.00 | $ 8,336.00 | 30% |
$ 8,336.00 | $ 10,420.00 | 36% |
$ 10,420.00 | And Up | 40% |
Business tax is 20% of net profits. Capital gains are taxed at a flat rate of 20%, while the inheritance tax is graduated from 1% to 25%.
When the King of Rock and Roll died in August 1977, his estate was valued at...
Read moreHalfway through 2024, it’s a good time to take stock of the dollar’s buying power overseas. And this year, there’s a mixed bag of winners and losers. The following countries offer the best “currency bargains” for 2024 so far, including a few markets that saw the dollar lose buying power this year but are still a good buy by historic standards. (This report analyzes the dollar’s performance in 2023… but to assure it’s current, I’ve extended the window through March 2024.)...
Read more© 2008 - Live and Invest Overseas - All Rights Reserved.
Sign up for FREE and learn how to live the good life on a modest budget, find bargain property, and more. Plus, check out our free report on the 10 BEST PLACES TO RETIRE.
RETIRE OVERSEAS AND LIVE LIKE ROYALTY
Sign up to receive the FREE daily e-letter, Overseas Opportunity Letter and we’ll immediately email you our editors’ latest research report…
BEST PLACES TO RETIRE
FREE REPORT: