How to Pay Deferred VAT: Requirements, What it is and MORE

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Did you know that now you can postpone paying VAT. Today there is a benefit for Chilean companies that for some reason could not pay on time. In this article, we will inform you How to Pay Deferred VAT, continue reading and you will know more about the subject. All companies that have a capital of less than UF 60,000 can do so.

All taxpayers ask themselves this question:How to Pay Deferred VAT? Well, it is very easy and simple, you only have to perform all the steps that will be explained to you so that you avoid errors when doing it and therefore unnecessary fines.

Success in the process!

How to Pay Deferred VAT?

To benefit from the delay advantage VAT payment, the citizen must enter the SII site, Online Administrations area, Monthly Charges menu, where they can decide to defer the payment of the total amount of VAT. Up to 2 months after the first termination date.

When deciding to declare and postpone the payment of VAT, an alternative that will be practiced in the same declaration; An evaluation draft will be produced and counted, with an expiration date on the twelfth or twentieth day of the resulting month, as appropriate.

Paying Deferred VAT: Who Can Do It?

Chilean citizens who are covered by any of the attached systems that we detail below:

  • Simplified Tax Regime 14 Ter.
  • Also, full accounting regime.
  • Simplified accounting regime.

In addition, the entry do the following:

  • To adjust to the invoice for the delay during 2015, the company’s payment during the business year 2014 must be up to 25,000 UF.
  • Also to comply with the invoice for the 2016 delay, the company’s payment during the 2015 business year must be up to 100,000 UF.

  • And to adjust the invoice for the deferral of the VAT quota from 2017, the annual average of the business payment in the last 3 business years, should not exceed 100,000 UF.

In the event that the requirements are met, the subsequent stage is to take advantage and for this the citizen must submit the VAT through the web within the legitimate cut-off times, choosing in said structure, the case «Delay in Delivery of VAT ».

Otherwise, you will not be qualified for this advantage. This is significant in light of the fact that you must consistently proclaim the assessment and request deferral of payment should you wish to do so.

Interest and fines

When you access this advantage, you will not be responsible for any penalty or interest, but be careful in case it happens within the time of the deferral (in two months), you clearly have to pay a fine.

What is VAT Postponement?

Below, you will find information about the postponement of VAT, keep in mind the following:

  • It includes the postponement of the VAT proclaimed within the period for the assessment times of June, July and August (which are pronounced and paid in the long periods of July, August and September, separately), in 6 or 12 portions.
  • The VAT that you defer, together with the delayed VAT in the long sections of April, May and June, begins to be paid from the October period (when the September charge period is proclaimed and paid).
  • The Citizen can postpone the delivery of the VAT until two months after the first expiration date. In the event that VAT payment is delayed. The taxpayer should not deal with interest or penalties, as long as he pays in 2 months.

Requirements to Pay Deferred VAT

It is important to meet the following requirements to qualify for the benefit, among them we have:

  • Citizens who meet the needs to benefit from the system of article 14 letter D) of the Personal Duties Law, the date of payment of all duties is delayed from July 2020, and will be in twelve regular payments.
  • Citizens whose remuneration exceeds the income limit of number 1. above, but whose annual remuneration does not exceed 350,000 improvement units, date of payment of taxes is deferred as of July 2020.
  • For this situation, for the computation of payment, those acquired by related organizations must be processed, according to article 8 N ° 17 letters a) and b) of the Appraisal Code Citizens covered by the provisions of letter D) of article 14 of the Law .

Additional prerequisites

  • That they are ready to be informed by email by the IBS.
  • At the time of postponement, there are no repeated misconduct in the significant value added appraisal fee or annual fee, except if the individual obligation is paid or is dependent on a current fee arrangement.
  • That, at the time of the postponement, it has submitted, in any case in a convenient manner, the additional expense form for the month-by-month estimate for the previous 36 periods and the annual personal expense form for the 3 years.

  • At that time, the advantage will not continue in the event that in the 36 referenced periods the citizen appears as a non-declarant of any of the aforementioned charges.
  • The law that simplified the tax reform, joined an additional need to delay the full payment of VAT, understanding that, at the time of postponement, citizens do not present repeated faults in the payment of VAT or tax.
  • One of the perspectives presented by the Change in Expenses (Law No. 20,780) was in order to improve the financial situation of taxpayers by modifying article 64 of the Law on Sales and Service Tax (VAT).
  • In order to allow said taxpayers to postpone the full payment of the VAT accrued for one month, up to two months after the date of payment, without prejudice to the timely declaration of VAT in accordance with the general rules.

Note that:

Through the changes introduced by Law No. 20,899, which unravels the annual evaluation framework and consumes other legitimate arrangements of duties, on February 2, an additional need has been added to delay the payment of VAT.

Understanding that, at the time of the postponement, citizens do not present repeated misconduct in the amount of the Value-Added Expense or in the personal evaluation, except if the separate obligation has been paid or depends on a substantial payment agreement.

For these reasons, the norm considers that the citizen presents repeated absences when he owes in any case the charges corresponding to three periods of service in any period of the year, due to a significant additional charge, or for two very long expenses.

Pay Postponed VAT: How to do it?

Pay attention and follow the prompts so that you know How to Pay Deferred VAT:

  1. Access the official website of the SII to declare Form 29 online within the usual legal deadlines.
  2. Likewise, you must locate the box «VAT Payment Postponement» (code [756]), which will transfer the entire VAT determined (code [89]), to the VAT Payment Postponement code (code [755]).
  3. Subsequently, confirm the sending of the declaration, a message will appear that will notify the issuance of a draft for the postponement of VAT payment due on the 12th or 20th of the following month.
  4. Through the Web, in the option «CAsk for postponement of VAT payment«, The citizen will have the option to postpone due to delay, having the option of» Pay On The Web «or» Print Money Order «and pay at any Organization, until the expiration date.
  5. In the event that the expiration date of the transfer ends and the respective appraisal has not been paid, the financially lagging amount will produce, as of said termination, the corresponding readjustments, interest and penalties.

Now, it is easier and simpler, it fully complies with all the requirements requested by the entity in charge of the procedure and you will obtain the certificate that proves that you are up to date with the VAT Tax. If you cannot cancel it on the requested date, then postpone the Payment.

What is VAT?

The Value Added Taxor (VAT) It is applied in almost all the nations of the planet, and in Chile it refers to an additional charge of 19% about a good or service. As such, the seller binds VAT in the commercial exchange and consequently the cost of sale increases.

As established by law, any sale equal to or more prominent than $ 180 must offset 19% VAT Tax. The benefit that entrepreneurs of medium, small and large industries currently have is that they can postpone payment for up to two months.

What is VAT for?

The VAT o Value Added Tax, is an indirect duty of use. In each purchase we pay the price of the good, in addition to the level of tariffs that is applied to your expense. The pay obtained from this duty is used to deliver goods to the State. Do not forget it, declare the income you receive on time, and cancel it in a timely manner to avoid unnecessary penalties and fines!

Thanks for reading, we hope it was helpful!


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