The tax administration (Superintendencia Nacional de Administración Tributaria, SUNAT) issued Resolution 163-2018/SUNAT (the Resolution) on 29 June 2018 which was published in the Official Gazette.
The Resolution sets out the rules for preparing and submitting the master file (MF) and country-by-country (CbC) report pursuant to the Peruvian Tax Law and its regulations.
Peru’s Master file and CbC reporting requirements apply for reporting fiscal years beginning on or after 1 January 2017. Key points of the Resolution are summarized as follows:
Master File
Taxpayers that are members of a group must submit a Master file if accrued income in the year exceeded 20,000 tax units (UIT); and transactions within the scope of transfer pricing rules (related-party transactions) amount to 400 UIT or more. The content of the Master file must include the information indicated in Annex I of the Resolution (in line with OECD guidance). To submit the Master file, taxpayers must complete Virtual Form No. 3561 through SUNAT Virtual, with the Master file attached in PDF format.
CbC Report
The CbC reporting requirement applies for MNE groups with consolidated group revenue of at least PEN 2.7 billion in the previous year. The requirement applies for ultimate parent entities resident in Peru, as well as designated surrogate parents and other non-parent entities if standard local filing conditions are met (note – local filing not required if foreign parent not required filing because EUR 750 million or equivalent group revenue threshold not met). Taxpayers obliged to submit a CbC report in Peru as a surrogate parent or when local filing conditions are met, must provide notification to SUNAT by the last day of the month prior to the month the report is due.
Local filing requirements will not apply if a surrogate parent submits a CbC report in another jurisdiction and certain conditions are met, including that the report will be exchanged with Peru, in which case, a notification on the designation of the surrogate must be provided to the tax authority by the deadline for the CbC report;
The content of the CbC report must include the information indicated in Annexes III and IV of the Resolution (in line with OECD guidance), taking into account the schema and technical specification provided in SUNAT Virtual. To submit the CbC report, taxpayers must complete Virtual Form No. 3562 through SUNAT Virtual, with the required XML files attached.
The deadline to submit both the Master file Report and the CbC report is the deadline for the monthly advance tax payment corresponding to the month of September of the fiscal year following the reporting fiscal year (exact date depends on RUC number). Taxpayers may amend a submitted Master file or CbC Report by repeating the process in full, with subsequent submissions invalidating earlier submissions.
However, for the submission of both the Master Report and the CbC Report in 2018 in respect of the 2017 fiscal year, an extension is provided, which includes that the deadline is between 15 and 22 November 2018, depending on the last digit of the RUC number, or 23 November 2018, for those with good taxpayer status.
