Chile Income Tax Rates for 2024

Chile Income Tax Brackets

Chile has a bracketed income tax system with seven income tax brackets, ranging from a low of 5.00% for those earning under $13,357,800 to a high of 40.00% for those earning more then $67,689,000 a year.

How does the Chile Income Tax compare to the rest of the world?

Out of the thirty four countries tracked, twelve have a higher maximum income tax rate then Chile. Countries with similar tax brackets include Slovenia with a maximum tax bracket of 41.00%, Ireland with a maximum tax bracket of 41.00% and Italy with a maximum tax bracket of 43.00%. Keep in mind that our ranking measures only nationwide income taxes, and does not account for local income taxes at state, province, or municipal levels.

Maximum Income Tax	Income Tax Allowance	World Tax Rank
40.00%	$6,092,010 ($0 USD)	13th of 34

What is the Chile Income Tax?

Chile's personal income tax is a bracketed income tax that must be paid yearly by all citizens to the government of Chile. Failure to pay, or underpayment of, the Chile income tax can result in high fees, fines, or jail time.

In addition to Chile's income tax, other taxes may apply to wages or profits earned, including social services, medical care, and capital gains taxes.

Chile Income Tax Allowance

Chile provides most taxpayers with an income tax allowance of $6,092,010, which can be kept as a tax-free personal allowance. Chile's tax credit is a basic (fixed) allowance available to all (single) taxpayers without dependents.

A tax credit is a fixed amount of money that may be kept by taxpayers without paying any income taxes. Generally, a tax credit is subtracted from your gross income before your taxable income is calculated.