v3.25.1
Current Tax and Deferred Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Current Tax and Deferred Taxes [Abstract]  
Schedule of Income Tax Provision

The Bank and its subsidiaries at the end of each year, have constituted a First Category Income Tax Provision, which was determined based on current tax regulations, and has been reflected in the Statement of Financial Position net of taxes to be recovered or payable, as applicable, as of December 31, 2024 and 2023, according to the following detail:

 

   2024   2023 
   MCh$   MCh$ 
         
Income taxes   (333,719)   (298,877)
Less:          
Monthly prepaid taxes   483,615    429,554 
Credit for training expenses   1,820    2,300 
Other   8,021    7,409 
Total tax (receivable) payable, net   159,737    140,386 
           
Tax Rate   27.00%   27.00%

 

   2024   2023 
   MCh$   MCh$ 
         
Current tax assets   159,869    141,194 
Current tax liabilities   (132)   (808)
Total tax receivable (payable), net   159,737    140,386 
Schedule of Tax Expenses

The Bank’s tax expense recorded for the years ended December 31, 2024, 2023 and 2022 is detailed as follows:

 

   2024   2023   2022 
   MCh$   MCh$   MCh$ 
Income tax expense:            
Current year taxes   339,604    268,318    369,711 
Tax from previous period   (5,343)   620    2,931 
Subtotal   334,261    268,938    372,642 
(Credit) charge for deferred taxes:               
Origin and reversal of temporary differences   (1,482)   44,545    (91,001)
Subtotal   (1,482)   44,545    (91,001)
Others   822    8,631    7,568 
Net charge to income for income taxes   333,601    322,114    289,209 
Schedule of Reconciliation of Effective Tax Rate

The following table reconciles the income tax rate to the effective rate applied to determine the Bank’s income tax expense as of December 31, 2024, 2023 and 2022:

 

   2024   2023   2022 
   Tax rate %   MCh$   Tax rate %   MCh$   Tax rate %   MCh$ 
Income tax calculated on net income before tax   27.00    427,161    27.00    457,958    27.00    468,453 
Additions or deductions (*)   (5.92)   (93,726)   (8.04)   (136,285)   (10.93)   (189,722)
Other   0.01    166    0.03    441    0.60    10,478 
Effective rate and income tax expense   21.09    333,601    18.99    322,114    16.67    289,209 

 

(*)The deductions of the tax rate for 2024, 2023 and 2022 mainly relate to permanent differences between tax and financial accounting rules.
Schedule of Effects of Deferred Taxes on Assets, Liabilities and Income Accounts

The effects of deferred taxes on assets, liabilities and income accounts are detailed as follows:

 

   Balance as of   Effect   Balance as of   Effect   Balance as of 
   December 31,           December 31,           December 31, 
   2022   Income   OCI   2023   Income   OCI   2024 
   MCh$   MCh$   MCh$   MCh$   MCh$   MCh$   MCh$ 
Debit differences:                            
Allowances for loan losses and provision for contingent loans   213,784    (52,432)   
—
    161,352    184    
—
    161,536 
Personnel provision   20,228    4,176    
—
    24,404    232    
—
    24,636 
Staff vacations provisions   11,139    886    
—
    12,025    (463)   
—
    11,562 
Accrued interest adjustments from impaired loans   10,305    4,632    
—
    14,937    1,597    
—
    16,534 
Staff severance indemnities provision   1,368    (136)   20    1,252    (217)   (31)   1,004 
Provisions of credit card expenses   9,146    711    
—
    9,857    1,111    
—
    10,968 
Provisions of accrued expenses   11,829    (1,092)   
—
    10,737    (506)   
—
    10,231 
Adjustment for valuation of investments and equity instruments at fair value through OCI   3,533    
—
    (3,256)   277    
—
    198    475 
Leasing   89,821    13,531    
—
    103,352    7,591    
—
    110,943 
Incomes received in advance   9,012    (3,863)   
—
    5,149    (1,035)   
—
    4,114 
Exchange rate difference   
—
    
—
    
—
    
—
    
—
    
—
    
—
 
Property and equipment valuation difference   403    2,473    
—
    2,876    3,924    
—
    6,800 
Other adjustments   32,382    (1,060)   
—
    31,322    (10,174)   
—
    21,148 
Total Debit Differences   412,950    (32,174)   (3,236)   377,540    2,244    167    379,951 
                                    
Credit differences:                                   
Intangible   16,965    7,745    
—
    24,710    5,913    
—
    30,623 
Property and equipment valuation difference   
—
    
—
    
—
    
—
    
—
    
—
    
—
 
Transitory assets   7,953    921    
—
    8,874    852    
—
    9,726 
Loans accrued to effective rate   2,441    43    
—
    2,484    (151)   
—
    2,333 
Prepaid expenses   2,688    8,197    
—
    10,885    (4,485)   
—
    6,400 
Exchange rate difference   3,406    (1,770)   
—
    1,636    (835)   
—
    801 
Activated bond placement expense   5,810    (553)   
—
    5,257    (362)   
—
    4,895 
Other adjustments   5,501    (2,212)   (1)   3,288    (170)   
—
    3,118 
Total Credit Differences   44,764    12,371    (1)   57,134    762    
—
    57,896 
Total Debit (Credit), net   368,186    (44,545)   (3,235)   320,406    1,482    167    322,055 

 

Reconciliation to Statement of Financial Position

 

   2024   2023 
   MCh$   MCh$ 
         
Deferred tax assets   322,221    320,406 
Deferred tax liabilities   (166)   
—
 
Total deferred taxes   322,055    320,406