The National Superintendency of Customs and Tax Administration (Sunat) released Report No. 000063-2024-SUNAT/7T0000 on 9 September 2024, clarifying issues related to the informative affidavit required for import and export transactions involving related parties, which fall under transfer pricing regulations.
A related-party transaction refers to an agreement or deal between two parties connected by an existing business relationship or shared interest.
Companies are required to submit this affidavit on the day of arrival for imports and the day of shipment for exports. Late submissions will result in the recalculation of the agreed price based on international commodity quotes and will incur fines.
If the affidavit is amended and submitted after the deadline, fines will be adjusted under the gradual penalty regime.
Recalculated price will still be applied if it leads to higher taxes in Peru.
Companies employing methods other than the comparable uncontrolled price (CUP) method must provide a technical transfer pricing report.
