Chile UTM Update for May
There aren’t a lot of fee updates this week, so we’re highlighting a little-known data point about Chilean IP Fees that makes them a bit unusual.
Let’s dig in
Chile UTM Update effective from May 2024
Did you know that many of Chile’s intellectual property fees are based on a value known as UTM (“Unidad Tributaria Mensual”), which is updated monthly by the Chilean tax authority?
The rate increases from 65,182 to 65,443 Pesos in May.
What does that mean in practical terms?
A patent application is 1 UTM, so filing an application today will cost you 69.16 USD, and tomorrow, you’ll be out 69.44 USD.
The more you know…