On 19 October 2020, the Peruvian Tax Administration (SUNAT) has issued Press release No. 101, where it was stated that SUNAT will be able to access and review the international tax and financial information of more than 16,000 companies and 33,000 high net worth individuals based in Peru, which will strengthen the fight against avoidance and tax evasion in operations and financial movements carried out abroad.
This is possible after the OECD Global Forum on Transparency and Information Exchange officially communicated that SUNAT has successfully completed the evaluation of the security and confidentiality standards established by this body.
Compliance with the standards of the OECD Global Forum for the security and confidentiality of information is part of the progress and commitments made in international taxation.
In June 2019, the automatic exchange began with the sending to 38 tax administrations of the Country-by-Country Report (CbC) within the framework of Action 13 of the Inclusive Framework on BEPS, which corresponds to multinational groups with annual incomes higher than S/ 2,700 million.
In the case of the Country by Country Report, it is necessary to highlight that the information received will allow a better understanding of the way multinational groups operate and how they carry out the transfer of income through tax schemes to countries with low or no taxation.
