On 22 March 2012, Peru’s Finance Minister announced that Peruvian authorities are to target non-compliant taxpayers, aiming to boost the tax take by 2.5% of gross domestic product (GDP) within a four-year period, whilst maintaining tax rates.
The nation would look to increase the tax-to-GDP ratio by tackling endemic tax evasion and improving enforcement techniques. Under the plans, Peru’s tax authority, Sunat, will receive enhanced powers, and will look to improve its administration of taxes. Industries where tax evasion is thought to be prevalent will be targeted, and tax loopholes will be closed.
Following the announcement, Sunat has recently launched a campaign to target illegal mining operations in a bid to tap the PEN500m (USD187m) in tax that is estimated to go unpaid each year.
