Simplified accounting system for qualifying SMEs

摘要

Chile has tried to increase registration, filing and reporting compliance across an estimated 200,000 SMEs using an elective simplified accounting system for qualifying SME taxpayers. This includes simplified rules for assessing income using a cash system requiring only incomings and outgoings to be declared, investment and stock payments can be deducted immediately and provisional monthly payment of 0.25% of gross monthly sales. Plus web-based application to determine taxable income online.