Income Tax on Foreign Income

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eeuunikkeiexpat
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Re: Income Tax on Foreign Income

Post by eeuunikkeiexpat » Sun Jan 11, 2015 7:38 pm

YES, we are getting somewhere! Info from more than one anecdotal source is coalescing into coherence. This is important if I want to make sure my accountant really knows what the hell he/she is doing.

So monthly declaration via F29 can be used even if you have not initiated any activity in Chile? That is what it comes down to as far as I can determine.
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fraggle092
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Re: Income Tax on Foreign Income

Post by fraggle092 » Sun Jan 11, 2015 11:07 pm

eeuunikkeiexpat wrote:So monthly declaration via F29 can be used even if you have not initiated any activity in Chile?
To me it looks like they use it that way, in order to allow them to collect tax from people a bit outside the system who are neither employees nor self-employed. But I guess that most people in your position don't voluntarily declare their foreign income at all....hence the silence.

Actually I would try first to get an extension of the exempt period but I'm not an accountant. I do know a Contador Auditor, ex SII, in Serena if you do need more help. Once the SII becomes officially aware of your existence you are in the system for life.
I did see among the citizenship paperwork requirements that they ask for a copy of the latest annual tax statement....thats for Rentistas

But maybe you are approaching the situation from the wrong end. Instead of trying to square things away with the SII in the hope that this will help when applying for citizenship, maybe you should check the requisites first with an immigration lawyer first to find out the minimum that is looked for. But now I'm way out of my depth, so no more from me....

http://www.extranjeria.gob.cl/filesapp/NCH_ISO.pdf
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Gloria
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Re: Income Tax on Foreign Income

Post by Gloria » Sun Jan 11, 2015 11:33 pm

eeuunikkeiexpat wrote:YES, we are getting somewhere! Info from more than one anecdotal source is coalescing into coherence. This is important if I want to make sure my accountant really knows what the hell he/she is doing.

So monthly declaration via F29 can be used even if you have not initiated any activity in Chile? That is what it comes down to as far as I can determine.
If you have no working or business activities in Chile, what's there for you to declare???? Zero! Nada! Your concern about your future chilean citizenship may get you more in trouble filling forms unnecessarily plus you can always say that your wife supports you. Nothing wrong with that.
I'm from the generation of common sense, wisdom and unfiltered answers. I sayeth as I seeth.

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eeuunikkeiexpat
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Re: Income Tax on Foreign Income

Post by eeuunikkeiexpat » Sun Jan 11, 2015 11:33 pm

fraggle092 wrote: I did see among the citizenship paperwork requirements that they ask for a copy of the latest annual tax statement....thats for Rentistasf
Not just Rentistas, I checked the list:

Empleado - AM NOT
• Fotocopia de la última liquidación anual de impuestos si corresponde, (cuando el solicitante
tiene otros ingresos)

Empresarios o trabajadores por cuenta propia. - AM NOT
• Fotocopia de la última Declaración Anual de Renta del solicitante y de la sociedad.
• Fotocopia de las 6 últimas declaraciones mensuales de impuestos (IVAS).
• Fotocopia de último balance tributario.

Honorarios - AM NOT
• Fotocopia de la última Declaración Anual de Impuestos
• Certificado anual de Boletas a Honorarios emitido por Servicio de Impuestos Internos.

Jubilados - AM NOT BUT ONLY POSSIBLE MODEL FOR APPLICATION
• Fotocopia de liquidaciones de pensión y su conversión a moneda legal chilena, si fuera este el caso. - NO SPECIFIC TAX DOC REQUIREMENT BUT FOREIGN PENSIONS AREN"T TAXED

Estudiantes - AM NOT

Rentistas - AM NOT
• Fotocopia última Declaración Anual de Impuestos.

Religiosos - AM NOT


Does indeed sound like a Chile immigration lawyer question but logic would dictate wouldn't the question of where is your overseas income declarations come up?
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Gloria
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Re: Income Tax on Foreign Income

Post by Gloria » Sun Jan 11, 2015 11:38 pm

Exactly!!! how hard was that to understand!! You don't have businesses or employees or work for no one else so what do you have to declare???? NIENTE!
I'm from the generation of common sense, wisdom and unfiltered answers. I sayeth as I seeth.

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eeuunikkeiexpat
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Re: Income Tax on Foreign Income

Post by eeuunikkeiexpat » Sun Jan 11, 2015 11:42 pm

Gloria wrote:Exactly!!! how hard was that to understand!! You don't have businesses or employees or work for no one else so what do you have to declare???? NIENTE!
No Gloria, Chile tax law states a Chile resident must declare their overseas earnings but new residents have a three-year tax holiday on that.

And don't forget there is a two-way tax information sharing agreement between Chile-USA. We know the USA will ask Chile but the question is will Chile ask the US?
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Gloria
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Re: Income Tax on Foreign Income

Post by Gloria » Sun Jan 11, 2015 11:51 pm

eeuunikkeiexpat wrote:
Gloria wrote:Exactly!!! how hard was that to understand!! You don't have businesses or employees or work for no one else so what do you have to declare???? NIENTE!
No Gloria, Chile tax law states a Chile resident must declare their overseas earnings but new residents have a three-year tax holiday on that.

And don't forget there is a two-way tax information sharing agreement between Chile-USA. We know the USA will ask Chile but the question is will Chile ask the US?
I'm aware about FACTA but my point is once again.....if YOU have nothing to declare....................................................
I'm from the generation of common sense, wisdom and unfiltered answers. I sayeth as I seeth.

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eeuunikkeiexpat
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Re: Income Tax on Foreign Income

Post by eeuunikkeiexpat » Mon Jan 12, 2015 12:15 am

FACTA is not the same as the Tax Information Sharing Agreement.

I became a temporary and permanent resident via my bank statements and ATM transactions. The question in every step is how do you support yourself? Obviously some sort of ingresos is coming in to support my lifestyle in Chile. Question may very well come up why are you not complying with Chile tax law?

Guess we need to determine what constitutes foreign renta and if saying I have nothing to declare is an adequate explication. As I pointed out above, every category except the oddball student and religious applications require Chile tax documentation. Yes, the pensioner doesn't but foreign pensions aren't taxed. See what I'm talking about?
Generally, just a SPAM KILLER. You are on your own in this forum. My personal mission here is done.

BUT when necessary, by way of ridicule and truth revelation we shalt do war.

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Gloria
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Re: Income Tax on Foreign Income

Post by Gloria » Mon Jan 12, 2015 8:55 am

I do, I do, I do!! Fear is taking over you and fear will create more mistakes for you than what's worth. Simply put it...you cannot get "pears out of an oak tree".
I'm from the generation of common sense, wisdom and unfiltered answers. I sayeth as I seeth.

Gloria
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Re: Income Tax on Foreign Income

Post by Gloria » Mon Jan 12, 2015 12:00 pm

eeuunikkeiexpat wrote:
fraggle092 wrote: I did see among the citizenship paperwork requirements that they ask for a copy of the latest annual tax statement....thats for Rentistasf
Not just Rentistas, I checked the list:

Empleado - AM NOT
• Fotocopia de la última liquidación anual de impuestos si corresponde, (cuando el solicitante
tiene otros ingresos)

Empresarios o trabajadores por cuenta propia. - AM NOT
• Fotocopia de la última Declaración Anual de Renta del solicitante y de la sociedad.
• Fotocopia de las 6 últimas declaraciones mensuales de impuestos (IVAS).
• Fotocopia de último balance tributario.

Honorarios - AM NOT
• Fotocopia de la última Declaración Anual de Impuestos
• Certificado anual de Boletas a Honorarios emitido por Servicio de Impuestos Internos.

Jubilados - AM NOT BUT ONLY POSSIBLE MODEL FOR APPLICATION
• Fotocopia de liquidaciones de pensión y su conversión a moneda legal chilena, si fuera este el caso. - NO SPECIFIC TAX DOC REQUIREMENT BUT FOREIGN PENSIONS AREN"T TAXED

Estudiantes - AM NOT

Rentistas - AM NOT
• Fotocopia última Declaración Anual de Impuestos.

Religiosos - AM NOT
Did you read what says under RELIGIOSOS????? It reads....................8. Sin ingresos (dueñas de casa)
Declaración jurada notarial de vivir a expensas y los comprobantes de ingresos del sostenedor
(cónyuge e hijos) con sus respectivos documentos que acrediten el vínculo..................... Meaning exactly what I have been saying .....the text translates to...... ******* No Income ( house wives) it could also be applied to househusbands......A sworn (notary) statement that you live on "her expenses" and proof of her income ( in your case) plus documents that shows your link or ties to her...********This is to obtain the citizenship and written in black and white. You missed reading below.
I'm from the generation of common sense, wisdom and unfiltered answers. I sayeth as I seeth.

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eeuunikkeiexpat
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Re: Income Tax on Foreign Income

Post by eeuunikkeiexpat » Mon Jan 12, 2015 1:17 pm

Need to keep multiple options open in that hypothetical situation:

Spouse may not be working in three years.
And who knows if they are looking for consistency throughout the process (know a few who had a rougher ride when changing types of visa between temporary and permanent so could hold true for citizenship)?

This is Chile, keep it simple so that an 8th grader can understand, cross every t and dot every i, keep your options open. For the hypothetical situation, yes the houseperson path is an option but having a second possible one won't hurt. Of course, there is a slight possible chance the regs could change in three to five years.
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Gloria
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Re: Income Tax on Foreign Income

Post by Gloria » Mon Jan 12, 2015 1:27 pm

At this point you guessed it right.......I SURRENDER OR GTFU!!
I'm from the generation of common sense, wisdom and unfiltered answers. I sayeth as I seeth.

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