The President presented to the Peruvian Congress on 24 August 2015 a bill proposing temporary tax exemptions from capital gains tax arising from the transfer of shares carried out through the Lima Stock Exchange.
To obtain the exemption certain conditions must be met which are as follows:
- The taxpayer and its related parties must not transfer more than 10% of the shares issued by the company (whose shares are sold) in any specific 12-month period.
- The shares must meet a liquidity threshold.
If the Peruvian Congress passes the Bill the exemption will be effective from 1 January 2016 until 31 December 2018.
