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The bills that allow a second withdrawal from pension funds are each advancing at their own pace, and while it is still not entirely clear which alternative will finally come to light, a question has arisen among taxpayers: the payment of taxes.
Although in the first withdrawal the government and the experts questioned the fact that the global tax complementary to the withdrawal of funds was not applied, this vision has been broadening and some center-left senators have already shown supporters of applying a tax.
Superintendency of Pensions: almost 10 million people could access a second withdrawal of 10% of the AFPs with a government project
Zaldívar says that richer Chileans will receive “a gift” from the State of US $ 1 million with the opposition’s withdrawal project: “It is absolutely unpresentable”
But how much should the people who withdraw their 10% pay? The amount will depend on the income that these people have, since that defines the scale of the percentage of the tax that goes from 4% to 40%.
Claudio Bustos, partner of Bustos Tax & Legal gave two examples. The first is based on the cap of UF 150 proposed by the opposition as a maximum withdrawal and the other with a cap of UF 100, which is the government’s initiative. It should be noted that until now, only the Executive’s proposal includes the payment of the tax.
In the first case, a person with income of $ 1,000,000 must pay $ 174,180 while in the second case the amount is $ 115,810. Now, if the income is $ 6,000,000, the payment in the first case reaches $ 1,499,422 and in the second, $ 991,414. (See table)
For Bustos, in general terms, he considers that they do have to pay the tax, since “these are incomes that have not been taxed since they are incomes that have not been taxed, because when the remuneration is paid, the pension contributions are deducted from the application of the single Second Category tax on wages ”.
However, he maintains that in the government project, “the obligation to repay the amounts you withdraw is included, so we would be talking only about a temporary loan, therefore, the hypothesis of applying taxes does not make much sense to me” .
