Stamp tax
Requirement
In Chile, companies must pay a stamp tax on each draft, bill of exchange, promissory note, or any document that involves loans, and especially borrowings and foreign ones. The rate of the stamp tax depends on the period of the loan and is calculated on one of these amounts:
- The amount that is expressed in the document
- The amount of borrowed money
M3 solution
In ‘Fiscal Stamps. Open Values’ (GLCL08), you can configure the monthly tax percentage and tax limit percentage per payment method and per accounting date. When users generate reports from 'AR Bills of Exchange. Report Fisc Stamps' (GLCL17), this configuration is used to determine the tax values to be used for tax calculation per transaction, depending on the transaction payment method and the invoice date.
Configuration guidelines for ‘Fiscal Stamps. Open Values’ (GLCL08)
In (GLCL08/E), specify this information:
| Field | Value or comment |
|---|---|
| Payment mtd AR | Specify a payment method. The payment method must exist in 'AR Payment Method. Open' (CRS076). |
| From date | Specify the date from which the monthly tax percentage and the tax limit percentage are valid. This date must fall within a system period with a valid setup. |
| Description | |
| Name | |
| Monthly tax % | Specify the monthly tax percentage. This field is required. |
| Tax limit % | Specify the tax limit percentage. This field is required. The tax limit percentage must be equal to or greater than the monthly tax percentage. |