On 10 August 2026, the Chilean Internal Revenue Service (SII) issued Circular No. 33, establishing the daily value of the Unidad de Fomento (UF) for the period 10 August 2026 through 9 September 2026, inclusive. The UF is a inflation-indexed monetary unit used extensively in Chilean tax, financial, and contractual calculations, particularly for money credit operations (operaciones de crédito de dinero). The circular provides a day-by-day table of UF values, which are calculated based on the previous month’s Consumer Price Index (CPI) variation as certified by the National Statistics Institute (INE). This information is critical for determining the taxable base of interest income, adjusting loan principals, and computing stamp tax (impuesto de timbres y estampillas) on credit instruments originated or outstanding during this window.
Key Takeaways
- Statutory Reference Rate: The published UF values are legally binding for all tax computations involving money credit operations during the specified period; no alternative indexation may be used.
- Daily Granularity: The circular supplies a daily UF series, enabling precise accrual accounting for interest income and expense on a day-count basis, which is essential for both corporate tax and stamp tax compliance.
- Operational Integration: Financial institutions, corporates with intercompany loans, and tax advisors must update their ERP and tax engines with the new UF series before processing August-September transactions to avoid misstatements.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement