Attention entrepreneurs: 3 keys to avoid falling into inconsistencies during the tax return “Operación Renta” 2022

Companies and entrepreneurs will again face this process under the corresponding tax regime, within one of the four available according to current legislation.

The “Operación Renta” process began and tax modernization brought with it some changes, including the incorporation of new regimes. The current alternatives are General Pro SMEs (Small and medium-sized enterprises) regime, Transparent Pro SMEs regime, Presumed Income regime, and Semi-Integrated regime. Addval Tax, an expert consultant on these issues, provides some tips to face this procedure.

Erick Kessler, Tax Manager of Addval Tax, explains that a good tax return is essential to lay the foundations for the company’s growth. “A statement with errors or inconsistencies risks significant fines that can affect the development of a SMEs in its expansion plan,” he says.

Given the above and in order to deal with this procedure correctly, the Addval expert delivered three recommendations, mainly for those taxpayers who operate under the Pro SME regime, and with the objective that they can carry out this process successfully.

Take advantage of the tools offered by the Internal Revenue Service (SII)

The novelty of this process is that the Internal Revenue Service (SII) enabled a system of virtual assistants to support those who must declare under the General Pro SMEs and Transparent Pro SMEs tax regime.

This assistance system consists in that, through the delivery of certain information, the agency offers a personalized proposal that allows the affidavit Form 1947 and 1948 to be made automatically. It is a measure that facilitates compliance thanks to the automation of the process.

Review which tax regime is applicable

It is important to check that the tax regime – in this case, Pro SMEs – is being held. Specifically, the company must ensure that its annual income is within the margins established to comply with current regulations and remain in the said tax regime.

In case of exceeding the profit limits, the corporation must pay taxes under a different regime, which implies, finally, an increase in the taxes to be paid. Fulfilling the Pro SMEs quotas, the tax rates reach 10%, while for a General Income regime this value rises to 27%.

In case of any doubt, the Internal Revenue Service (SII) provides information on the corresponding tax regime based on the background of each company.

Verify which are the affidavits you are obliged to present

The advice is to review which are all the mandatory affidavits this year and verify which ones you must present. Also, review and pay attention to the calendar of deadlines to stay up to date.


Kessler A.

Tax expert with advanced studies in Tax Reform. More than 10 years of experience in accounting outsourcing, due diligence, tax audits and tax compliance for companies in various industries. Such as: investment companies, real estate, technological development, automotive, among others. Auditor Accounting Degree, Central University of Chile. Diploma in Tax Management, Thomson Reuters Additional Tax and Agreements to avoid double taxation, Thomson Reuters