Peru and Spain will resume income tax treaty negotiations from 26 to 28 March 2025 in the fifth round of negotiations for an income tax treaty.
Earlier, the announcement was made by Luis Ibérico, Peru’s ambassador to Spain, during an event on 15 October 2024.
The two countries previously signed a tax treaty in 2006, but it was never ratified. With Spain being Peru’s second-largest source of foreign direct investment—accounting for 17% of total foreign investment and with around 500 Spanish companies operating in the country—both sides aim to update tax provisions to prevent double taxation and strengthen economic ties.
If an agreement is reached, the treaty will need to be signed and ratified before taking effect.
