The income tax treaties of Peru with Korea, Mexico, Portugal, and Switzerland recently obtained approval by the Peruvian Congress. The notices were published in the Official Gazette.
Under the new treaties, relief for taxes withheld at source generally may be claimed only on payments made on or after January 1 of the calendar year after the applicable treaty enters into force. This means that some treaties could take effect as early as January 1, 2015, if the procedural steps are completed during 2014.
