ARTICLE 268:

The holders of mining concessions and assignments, as well as the purchasers of duties related to those concessions that obtain income derived from the alienation or sale of the extractive activity, will pay the special mining duty annually, applying the 7.5% rate to the positive difference that results from reducing said income, the deductions allowed in this article, by means of a statement that will be submitted to the offices authorized by the Service Tax Administration (Servicio de Administración Tributaria) no later than the last business day of the month of March of the year following the one to which the payment corresponds.

The income referred to in the preceding paragraph shall be determined considering the accumulative income obtained by the mining concessionaire or assignee, as well as the acquirer of duties related to a mining concession, determined in accordance with the provisions of the Law on Income Tax (Ley del Impuesto sobre la Renta), with exception of those established in sections IX, X and XI of article 18 of said law, or those that replace them.

For the determination of the basis of the duty referred to in this article, the holders of mining concessions or assignments, as well as the purchasers of duties related to the concessions, may decrease the deductions authorized under the Law on Income Tax (Ley del Impuesto sobre la Renta), with the exception of the following:

For the purposes of the preceding paragraph, will not be deductible intangible assets that allow the exploitation of public domain assets or the provision of a concession public service referred to in the Law on Income Tax (Ley del Impuesto sobre la Renta), among others, the titles of concessions or assignments, mining companies, as well as the duities acquired for the exploration and exploitation of minerals or substances in accordance with the Mining Law (Ley Minera).

The duty referred to in this article shall be calculated considering all the concessions or assignments of which it is the owner.

The payment of the duty indicated in this article will be made independently of the payments of other duties on mining that, where appropriate, proceed according to this Law.

The Service Tax Administration (Servicio de Administración Tributaria) may issue the general provisions necessary for the correct and due application of this article.