On 25 September 2019, the Peruvian Tax Administration (SUNAT) has issued Resolution No. 185-2019/SUNAT establishing the procedure, deadlines and conditions for submitting the ultimate beneficiary informative return of entities. Effective from 1 January 2019, Supreme Decree No. 003-2019-EF provides implementing regulations for the ultimate beneficiary disclosure requirements introduced by Legislative Decree No. 1372 in August 2018. Natural persons that directly or indirectly hold at least 10% of the capital of the legal entity will be considered as a beneficial owner.
Key points of the Resolution are:
- Approval of Virtual Form No. 3800 – Declaration of the Final Beneficiary, which will be available from 1 December 2019 to be submitted through SUNAT website for the Legal entities that have the status of ‘main taxpayers’ on 30 November 2019;
- The statement must be submitted in accordance with the scheduled date by SUNAT;
- Clarifies declaration procedure of Virtual Form No. 3800;
- SUNAT can reject the form, if the information does not comply with the validations of structure and consistency defined for said form; and
- If the cause of rejection is not mediated, the proof of presentation is generated by the SUNAT system and is sent to the electronic mailbox of the obligated subject.
