In 30 seconds
- For the SII, cryptocurrencies are not legal tender or foreign currency.
- Gains from selling, swapping or exchanging crypto must be declared.
- If you are an individual without a business, the gain is subject to the Global Complementary Tax (or the Additional Tax, if you are not a resident).
- Since 2026, crypto-asset service providers report their clients' transactions to the SII.
What a cryptocurrency is for the SII
“Ni el bitcoin, ni ningún otro activo digital o también llamados criptomonedas, se consideran en Chile como monedas de curso legal o como monedas extranjeras o divisas.” In English: neither bitcoin nor any other digital asset, also called cryptocurrencies, is considered legal tender or foreign currency in Chile.
SII, Official Letter No. 963, May 14, 2018
The same letter states that selling cryptocurrencies is not subject to VAT, because it involves intangible goods, and classifies this income under article 20 No. 5 of the Income Tax Law.
How gains are taxed
Individuals without a business
The cost of the cryptocurrencies is adjusted by CPI (IPC) variation between the month before the purchase and the month before the sale. The gain pays final taxes on a cash basis: only the Global Complementary Tax or the Additional Tax, as applicable.
Businesses and sole proprietors
They are taxed under article 20 No. 5: First Category Tax and then the Global Complementary or Additional Tax.
Platform fees
Fees charged by exchanges are a service: they must issue a receipt or invoice subject to VAT (Official Letter No. 1,371 of 2019).
In the annual tax return
The SII's 2026 Income Tax Practical Guide is blunt: “Al vender, permutar o intercambiar criptomonedas, siempre se debe declarar las ganancias obtenidas” — when you sell, swap or exchange cryptocurrencies, the gains must always be declared. It points to code [1032] when the requirements of article 17 No. 8 letter m) of the Income Tax Law are met and the sale is to an unrelated party; otherwise, code [1865]. The general filing deadline is April 30.
What exchanges report
With Exempt Resolutions No. 113 and 114 of August 26, 2025, the SII created two sworn statements that crypto-asset service providers must file, following the OECD's CARF standard:
- DJ 1964: transactions of clients resident in Chile.
- DJ 1963: transactions of non-resident clients.
They are due by June 30 each year; the first filing was due June 30, 2026, covering 2025 transactions. In practice, the SII can cross-check what you declare against what the platform reports. In September 2025, the SII reported 13 crypto audit cases that collected CLP 4,702,255,765.
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The records worth keeping
- Date, amount and peso value of every purchase, sale, swap or payment received in crypto.
- The fees paid, both platform and network fees.
- Year-end statements or exports from each platform.
- Your wallet addresses and the identifier (hash) of relevant transactions.
This is general information based on SII sources, not tax advice. Each case depends on your residency, on whether you trade habitually and on how you operate: check with an accountant before filing.
FAQ
Do I pay tax if I only buy and hold crypto?
The SII ties the obligation to the gain you make when you sell, swap or exchange. Buying and holding does not by itself produce that gain, but you should record your cost from the day you buy. If you receive crypto as payment for work or a service, that is income and must also be declared.
Is swapping one crypto for another taxable?
The SII income tax guide lists swaps and exchanges among the transactions whose gains must always be declared.
Does my exchange report my transactions to the SII?
Yes. Since 2026, crypto-asset service providers file sworn statements 1963 and 1964 every year with their clients' transactions.
Sources
- SII · Official Letter No. 963 (in Spanish) (May 14, 2018)
- SII · Individuals without a business: crypto taxation (updated Oct 24, 2025)
- SII · Businesses: crypto taxation (updated Oct 24, 2025)
- SII · Platform fees (updated Oct 24, 2025)
- SII · 2026 Income Tax Practical Guide (pp. 47–51) (2026)
- SII · Exempt Resolution No. 113 (Aug 26, 2025)
- SII · Crypto audits and new sworn statements (Sep 22, 2025)
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