Chilean taxpayers should report their cryptocurrency profits to the Chilean internal revenue Service (SII), Spanish crypto media Diario Bitcoin reports on January. 17.

The SII reportedly decreed in 2018 that digital currencies weren’t subject to value added Tax (VAT), however ought to still be considered once calculating annual tax, as they fall under the definition of intangible assets.

Because of this thought, the dedicated tax form 22 can reportedly embody — for the first time — a special section dedicated to “other own and/or third-party financial gain from corporations that declare their effective income and don't declare it to full accounting, attributed...”

DiarioBitcoin reports that, whereas it's not explicitly expressed within the form, an SII statement released at the end of 2018 noted that taxpayers ought to report their income from the sale of foreign fiat currencies and cryptocurrencies within the said section.

As Top Market Group reported at the start of this month, the Chilean anti-monopoly court has again granted protection to native cryptocurrency exchanges by forcing banks to stay their accounts open.

In April 2018, news broke that Chilean cryptocurrency exchanges BUDA, Orionx and CryptoMarket (CryptoMKT) had applied to a court of appeals to confront the banks that shut down their platforms’ accounts.

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