The number of days of fine applicable to an economic crime shall be determined on the basis of the degree of deprivation of liberty provided by law for the respective misdemeanor.
The penalty days system, as a sanction, has been one of the innovations of the Economic Crimes Law that has generated more questions in the business world. How is it calculated? What is considered? are the main questions on the subject.
First of all, it should be pointed out that Articles 27 to 29 of the law regulate the system of fine-days. This system is constructed with two variables:
- The number of day-fines to which a person may be sentenced.
- The value of the day-fine to be assigned to each case.
According to Article 27 the number of days fine applicable to an economic crime will be determined based on the degree of imprisonment provided by law for the respective offense.
The minimum penalty for natural persons is 1 day fine, and in case of commission of more than one offense, the total penalty may not exceed 300 day-fines.
In addition, according to Article 12 of the Law on Criminal Liability of Legal Entities, the minimum penalty is 2 days fine and the maximum penalty is 400 days fine, although in cases where multiple offenses are committed (as a whole) the total penalty cannot exceed 600 days fine.
On the other hand, Article 28 indicates that the value of the day fine will correspond to the average daily liquid income that the convicted person has had in the period of one year before the investigation is directed against him, which in the case of natural persons may not be less than 0.5 or more than 1,000 UTM.
In this way, the value of the day fine corresponding to legal persons is regulated in Article 12 and, in this case, may not be less than 5 or more than 5,000 UTM.
For these reasons, the fine will be different for individuals, whether natural or legal persons, since it takes into consideration the income of each one, avoiding disproportionately high or low penalties, depending on the reality of each convicted person.
Below is a table that facilitates the understanding of this system.
| Calculation of fines for individuals | |||||||
| Custodial sentence | Days fine | Fine day value | UTM | Penalty value | |||
| Min. | Max. | Min. | Max. | Min. | Max. | ||
| Prison | 1 | 10 | 0,5 | 1000 | 66.628 | $33.314 | $666.280.000 |
| Minimum imprisonment or reclusion minor in its minimum degree | 11 | 50 | 0,5 | 1000 | 66.628 | $366.454 | $3.331.400.000 |
| Medium term of imprisonment or reclusion menor in its medium grade | 51 | 100 | 0,5 | 1000 | 66.628 | $1.699.014 | $6.662.800.000 |
| Maximum term of imprisonment or minimum term of imprisonment | 101 | 150 | 0,5 | 1000 | 66.628 | $3.364.714 | $9.994.200.000 |
| Minimum term of imprisonment or major incarceration | 151 | 200 | 0,5 | 1000 | 66.628 | $5.030.414 | $13.325.600.000 |
| Mid-term imprisonment or major incarceration | 201 | 250 | 0,5 | 1000 | 66.628 | $6.696.114 | $16.657.000.000 |
| Maximum term of imprisonment or maximum term of imprisonment to qualified life imprisonment. | 251 | 300 | 0,5 | 1000 | 66.628 | $8.361.814 | $19.988.400.000 |
| Calculation of fine for legal entities | |||||||
| Imprisonment | Days fine | Fine day value | UTM | Penalty value | |||
| Min. | Máx. | Min. | Máx. | Min. | Max. | ||
| Prison | 2 | 10 | 5 | 5000 | 66.628 | $666.280 | $3.331.400.000 |
| Minimum imprisonment or reclusion minor in its minimum degree | 11 | 50 | 5 | 5000 | 66.628 | $3.664.540 | $16.657.000.000 |
| Medium term of imprisonment or reclusion menor in its medium grade | 51 | 100 | 5 | 5000 | 66.628 | $16.990.140 | $33.314.000.000 |
| Maximum term of imprisonment or minimum term of imprisonment | 101 | 150 | 5 | 5000 | 66.628 | $33.647.140 | $49.971.000.000 |
| Minimum term of imprisonment or major incarceration | 151 | 200 | 5 | 5000 | 66.628 | $50.304.140 | $66.628.000.000 |
| Mid-term imprisonment or major incarceration | 201 | 250 | 5 | 5000 | 66.628 | $66.961.140 | $83.285.000.000 |
| Maximum term of imprisonment to qualified life imprisonment. | 251 | 400 | 5 | 5000 | 66362 | $83.618.140 | $133.256.000.000 |
*Without considering circumstances modifying liability (mitigating and aggravating circumstances). This is an explanatory exercise that may vary in practice. Value UTM November (Source: SII).
For more information on how the system of fine days will work for individuals and legal entities, we recommend you consult our Compliance Group:
Rodrigo Albagli | Partner | ralbagli@az.cl
Yoab Bitran | Director Compliance Group | ybitran@az.cl
Caterina Ravera | Senior Associate | cravera@az.cl
Florencia Fuentealba | Associate | ffuentealba@az.cl
Loreto Osorio | Associate | losorio@az.cl
Sebastián Achondo | Associate | sachondo@az.cl
Macarena Navea | Associate | mnavea@az.cl
Felipe Barrera | Associate | fbarrera@az.cl
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