EN 
ES 
Dear Participants,
Due to the dividend payment that was agreed to be distributed in the Annual General Shareholders’ Meeting of Besalco S.A. (“BESALCO”), held on Thursday, March 31, 2022 (the “Meeting”), BESALCO will make available for those shareholders that wish to make use of it, a procedure to pay the Substitutive Tax for Final Taxes (“ISFUT”), this is, a global, supplementary or additional global tax, according to the considerations in provisional article 25 of Law 21210 and the instructions provided by the Internal Revenue Service (“SII”), specifically, those contained in Circulars 43 of 2020 and 39 of 2021 and Official Letters 215 of 2021 and 2762 of 2021.
Considering the above, we wish to inform the following:
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According to provisional article 25 of Law 21210 and the instructions of SII, Shareholders can choose to pay the ISFUT with a 30% rate on a part or the entire balance of the accrued taxable income generated until December 31, 2016; that BESALCO keeps at the end of the business year of 2020 or 2021, with a deduction as credit of the corresponding first category tax. For this, BESALCO determined an effective rate (or “ERF”) of 17.78173757% for the ISFUT.
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The payment of the ISFUT allows considering the payment of the supplementary or additional global tax as completed, as appropriate. It may be distributed by BESALCO, giving preference to other revenue without being subject to the general orders of allocations considered in the Tax Income Law.
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Considering the above, shareholders may instruct BESALCO to pay the ISFUT for the entire or part of the dividend that corresponds to them, according to the number of shares registered under their name, by midnight of April 23, 2022.
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Those shareholders who decide not to instruct BESALCO to pay the ISFUT will receive the entire dividend agreed upon in the Meeting. These dividends will be subject to the general tax rules applicable to this type of income. The same will apply to those shareholders that have not communicated on time their decision to pay or not to pay the ISFUT to BESALCO.
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The Shareholders that instruct BESALCO to pay the ISFUT for all or part of the shares under their name by midnight of April 23, 2022, will authorize that the corresponding percentage of the amount of the dividend that belongs to them in account for those shares be used by BESALCO to pay for the ISFUT. In this way, these shareholders will be in charge of the payment of the corresponding amount of that tax.
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Those shareholders who have received the dividend and wish to choose this option must send the “Payment Instructions for the Substitutive Tax For Final Taxes (ISFUT)” form by noon of April 27, 2022, two business days before the payment. After that date, it will be assumed that the shareholders that have not sent the instructions have chosen to keep their dividend under the general tax regimen applicable to that income.
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Due to the above, these instructions must be completed according to the attached instructions and sent to the following email address:
This email address is being protected from spambots. You need JavaScript enabled to view it. with a copy to:This email address is being protected from spambots. You need JavaScript enabled to view it. .
This information and the mentioned instructions have been published on Besalco’s website: (https://besalco.cl/inversionistas/procedimiento-isfut) and the website of DCV Registros (www.dcv.cl) in the “Newsletter” section under the “News Center” menu.
Instructions Form for
the payment option of Besalco S.A.
Statement Letter on the Payment of the Substitutive
Tax For Final Taxes (ISFUT)” of Besalco S.A.
BESALCO DOES NOT ISSUE ANY OPINIONS ON THE CONVENIENCE OF CHOOSING A SPECIFIC TAX TREATMENT FOR THE ISSUES ADDRESSED IN THIS DOCUMENT. IT IS NOT RESPONSIBLE FOR THE DECISIONS SHAREHOLDERS MAY MAKE IN THOSE REGARDS. UNDER NO CIRCUMSTANCE MAY THIS DOCUMENT BE UNDERSTOOD AS TAX, FINANCIAL, ACCOUNTING, LEGAL, OR OTHER ADVICE. BESALCO RECOMMENDS ITS SHAREHOLDERS TO CHECK THEIR TAX AND LEGAL SITUATION BEFORE MAKING ANY DECISIONS REGARDING THE ISSUES ADDRESSED IN THIS DOCUMENT AND ENCOURAGES THEM TO OBTAIN INDEPENDENT ADVICE TO MAKE AN INFORMED DECISION.
For more information, please contact
the Shareholders’ Service Department.
