In August 2016 the Government of Peru presented a bill to the parliament which stated its intention to increase corporate income tax for large and medium-sized companies but to reduce it for small companies. The standard rate for large companies (currently 28%) would be returned to 30%, while the rate for small companies would be 10% for 10 years.
However, withholding tax on dividends would be returned to 4.1%, and the president has said he wants to introduce tax credits for large companies which reinvest profits. In September 2016 the government announced plans to restore a special 15% corporate income tax rate for fish farming.
