Tuesday , January 31 2023

The auction on stock market, which helps Nutrien, reduces taxes to pay 24% of SQM's sales



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Finally, $ 1.002 million from Nutrien will be issued to the Internal Revenue Service (SII) for the sale of 24% of the SQM. This figure was emphasized that the enterprise was "the highest in the history of Chilean Tax Administration".

The operation was monitored by the Canadian Joint Stock Company, the Elusive Analysis Department and a team of special cases following a breach of part A series A shares in the stock exchange in April. Subdirección de Fiscalización, in addition to Legal Subdirectorate experts.

The noise of how the transaction could be taxed in the marketplace was not so small, they pointed to millionaires figures, and since May 17th, after announcing Nutrien Tianqui to sell his share of the SQM for $ 4.066 million. After that, one that will be through a stock exchange auction.
Market Maker on April 23, SQM hired Banchile as a market maker for the A series.

existence of the stock market and, consequently, the tax burden.

Despite the fact that the contract was approved by the SQM on 19 February, then there was a debate that the directors Fernando Massu and Gerardo Jouffi signed for a contract.

In Article 107 of the Income Tax Law, income tax exemptions are deemed to have an impact on taxes that is a great value acquired by S.A. open market stock market with the participation of the stock market.

Indeed, this final concept was a complex for Nutrien: the existence of the stock market is valid for 45 days and 45 days for 45 days, based on the Securities and Insurance Standards Standard 327 of 2011; and or an emitter signed a deal with a market maker.

That is, if the transaction did not achieve significant transactions, the fact that a market-maker contract could be achieved could have a tax benefit.

Along with that, SII said in a statement on Wednesday that "a tool known as a producer in the market has not been applied in transactions because some of the shares are in line with the general requirements that the standard requires, and comes from Article 107 of the Income Tax Law."

From this point of view, it has been confirmed that these general requirements are confirmed by the SII in electronic payment systems and confirmed by the information provided by the CMF, "SQM-A affirms its shareholder support since June 15"

This indicates market operators who are not asking for their names, and A series A documents have released 1.5 million shares of Nutrien after the April 20 auction in Santiago Stock Exchange. of the series (1% of SQM), for which 75 mln.

Prior to the auction, the SQM-A did not operate with the stock market in the registry of the Santiago Stock Exchange. But for the first time on June 15, it reached 25% and today it has 54.44%.

This, though historically less than the auction date, was less than the date of the auction, although the stock exchange did not achieve a tax deduction because they went beyond the stock market, though, according to 107 SII, Nutrien, the first category, affects taxes and recent taxes which corresponds to the profits that occur in the operation that will pay $ 1,002.5 million.

As a result, the analyst says that the sides have reached the intermediate point.

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