The Peruvian-Chinese Chamber of Commerce announced that China and Peru have completed the first round of negotiations for an income tax treaty on 31 May, 2024. This treaty aims to avoid double taxation and prevent tax evasion, enhancing economic integration between the two countries.
The negotiations were attended by HE Song Yang, China’s Ambassador to Peru, and José Berley Arista Arbildo, Peru’s Minister of Economy and Finance, along with other key officials.
“In parallel with this agreement we are improving the entire legal institutional framework, in which we can coexist in a more favourable way for both countries,” said Arbildo.
China is the first destination for Peru’s exports. 34% of the total exported in 2023 was destined for this country, exporting more than USD 33 billion.
Peru and China will carry out the second round of negotiations in November 2024. This agreement is one of the instruments that would promote integration between China and Peru, not only in the field of trade in goods and services, but also in the area of investments.
If an agreement is reached, this treaty will be the first of its kind between nations. It must be finalised, signed, and ratified before it can come into effect.
