Peru: Congress approves bill to ratify MLI
The Economy, Banking, Finance, and Financial Intelligence Committee of the Peruvian Congress approved a bill to ratify the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) on 6
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China, Peru to hold second round of tax treaty talks
Officials from China and Peru will convene from 19 to 22 November 2024 for the second round of negotiations regarding an income tax treaty. This treaty seeks to prevent double taxation and tax evasion, promoting economic integration between the
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Peru, Spain to resume tax treaty talks next year
Peru and Spain will resume income tax treaty negotiations in March 2025, as announced by Luis Ibérico, Peruvian ambassador to Spain. during an event on 15 October 2024. An income tax treaty was signed in 2006, but it was never
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Peru approves retroactive application of APAs
The Peruvian Executive Branch has announced the approval of Legislative Decree No. 1662, dated 24 September 2024, which modifies the Advance Pricing Agreement (APA) provision in the income tax law to permit the retroactive application (roll-back) of
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Peru updates invoice recording deadlines, grants tax authority power to generate purchase register
The Peru government has implemented changes to amend deadlines for recording invoices in the purchase register for value added tax (VAT) purposes, and allows Peru’s tax authority (SUNAT) to generate the purchase register, published in Legislative
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Peru enacts new rules for determining FMV of non-listed securities in related-party transactions
The Peruvian Government enacted Legislative Decree 1663 on 24 September 2024, amending the Income Tax Law to introduce rules for determining the fair market value (FMV) of non-listed securities in related-party transactions. This closes a gap in the
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Peru clarifies informative affidavit requirements for transfer pricing compliance
The National Superintendency of Customs and Tax Administration (Sunat) released Report No. 000063-2024-SUNAT/7T0000 on 9 September 2024, clarifying issues related to the informative affidavit required for import and export transactions involving
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Peru postpones new VAT rules for B2C digital services
Peru issued Legislative Decree No. 1644 in the Official Gazette on 13 September 2024, postponing the implementation of Legislative Decree No. 1623. Earlier, Peru’s tax authority, SUNAT, had issued Superintendency Resolution No.
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Peru sets new VAT registration rules for B2C digital services
Peru's tax authority, SUNAT, has issued Superintendency Resolution No. 000173-2024/SUNAT, outlining the registration procedure for non-domiciled (non-resident) suppliers to collect VAT (IGV) when providing B2C digital services under Legislative
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Peru implements 18% VAT for digital services
The Ministry of Economy has announced new regulations (Supreme Decree No. 157-2024-EF) for VAT collection on digital services provided by non-resident entities and the import of intangible goods. The decree was published in the Official Gazette on
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El Salvador, Peru resumes talks for FTA
Peru’s government announced that El Salvador and Peru will restart negotiations for a free trade agreement (FTA) on 22 August 2024. This decision follows a meeting between officials from both nations in El Salvador. Both countries aim to
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Peru introduces new VAT rules for digital services, online purchases
The government of Peru has enacted Legislative Decree No. 1623, dated 2 August, 2024, to implement new rules for collecting Value Added Tax (IGV) on digital services provided by non-domiciled suppliers to Peruvian residents. This regulation targets
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Peru releases third version of high-risk tax schemes catalogue under GAAR
Peru tax authority (SUNAT) has published the third version of its catalogue of high tax risk schemes that could be challenged under the country's General Anti-Avoidance Rule (GAAR). This updated list includes 11 new high-risk schemes, bringing the
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China, Peru advances tax treaty negotiations
The Peruvian-Chinese Chamber of Commerce announced that China and Peru have completed the first round of negotiations for an income tax treaty on 31 May, 2024. This treaty aims to avoid double taxation and prevent tax evasion, enhancing economic
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Peru and Switzerland begin talks to revise tax treaty in accordance with OECD standards
Peru and Switzerland officials are set to commence talks on 3–6 June, 2024, aiming to amend their 2012 tax treaty in alignment with OECD BEPS
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UK and Peru successfully conclude tax treaty negotiations
The UK’s His Majesty’s Revenue and Customs (HMRC) issued a joint declaration on 17 May, 2024, announcing the successful conclusion of negotiations for an income tax treaty with Peru. Discussions were held over the course of several years
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Peru issues resolution to extend deadlines for individuals, micro and small enterprises tax returns
On 31 December 2023, Peru published the Superintendency Resolution No. 000269-2023/SUNAT of 29 December 2023. The resolution extends the deadlines for submitting the annual income tax returns and payments by individuals and micro and small
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Peru announces tax incentives for agro and textile sectors for 2024
On 30 December 2023, Peru published Law No. 31969 in the Official Gazette. The law introduces new incentives to enhance competitiveness and stimulate job creation in various sectors, including agriculture and textile industry. One key incentive
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