Peru issues resolution to extend deadlines for individuals, micro and small enterprises tax returns

January 02, 2024

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

See More

Peru announces tax incentives for agro and textile sectors for 2024

January 01, 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

See More

Peru updates tax code on interest for refunds and penalties

December 24, 2023

On 20 December 2023, Peru’s Congress announced it amended its tax code concerning Law 31962. The amendment is related to the interest rate that the Tax Authority should consider involving cases on refund claims for improper or excessive tax

See More

Peru extends deadline for individual and micro and small enterprises tax return

December 04, 2023

On 22 November 2023, Peru published Law No. 31940 in the Official Gazette extending the deadlines for annual income tax returns and payments for individuals and small enterprises until June of the following tax year. The standard deadlines,

See More

Peru shifts from LIBOR to SOFR for lower withholding tax on nonresident interest

July 11, 2023

On 29 June 2023, Peru published Supreme Decree 137-2023 in the Official Gazette for the adoption of the Secured Overnight Financing Rate (SOFR) to replace the London Interbank Offered Rate (LIBOR). The Decree came into force on 30 June 2023. This

See More

Peru extends income tax exemption for certain non-profit entities until 31 December 2026

May 09, 2023

On 22 April 2023, Peru issued Legislative Decree No. 1549 in the Official Gazette, which extends the income tax exemption provided by Article 19 of the Income Tax Act for certain non-profit entities. Accordingly, the income tax exemptions, which

See More

Peru extends tax incentives for R&D investments until 2025

January 29, 2023

On 30 December 2022, Peru published Law No. 31659 in the Official Gazette modifying Law No. 30309. The Law promotes scientific research, technological development and technological innovation (R&D investments). The tax benefits are extended for

See More

Peru extends tax incentives for real estate investment funds until 2026

January 26, 2023

On 29 December 2022, Peru published Law No. 31650 in the Official Gazette modifying Legislative Decree 1811. The Law approves the extension of the validity of tax incentives to promote real estate investment funds until 31 December 2026. The Law is

See More

Peru extends the due date for monthly tax obligations of December 2022

January 08, 2023

On 3 January 2023, the Peruvian tax authorities (SUNAT) issued Resolution No. 000001-2023/SUNAT in the Official Gazette extending the due date for monthly tax obligations of December 2022. Accordingly, SUNAT has extended the deadline to the

See More

Peru: SUNAT updates the list of high-risk tax planning schemes regarding GAAR

October 17, 2022

On 11 October 2022, the Peruvian Tax Administration (SUNAT) published second version of the list of high-risk tax planning schemes regarding the General Anti-Avoidance Rule (GAAR). The updated list contains the following thirteen tax planning

See More

Peru submits a draft bill to Congress to ratify BEPS MLI

September 13, 2022

On 8 September 2022, a draft bill was submitted to the Peruvian Congress for the ratification of the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting (MLI). Peru signed the convention on 27

See More

Peru modifies export & import transactions reporting requirements under TP rules

April 04, 2022

On 26 March 2022, Peru issued Legislative Decree No. 1537 in the official gazette regarding relaxing the term for the presentation of the communication of exported and imported goods and the obligation of the information to be registered in said

See More

Peru sets deadlines for individual and CIT returns for 2021

January 26, 2022

On 30 December 2021, the Peruvian tax authorities (SUNAT) has issued Resolution No. 000195-2021/SUNAT in the official gazette regarding the deadlines for individual and corporate tax (CIT) returns for 2021. The Resolution includes an

See More

Peru: SUNAT issues Decree on interest deduction limitation rules

January 10, 2022

On 30 December 2021, the Peruvian Tax Administration (SUNAT) has issued Supreme Decree 402-2021-EF in the Official Gazette clarifying the regulations for interest deduction limitation rules. From 1 January 2021, interest exceeding 30% of EBITDA

See More

Peru issues Legislative Decrees on tax incentives for various sectors

January 07, 2022

On 30 December 2021, Peru’s President Pedro Castillo has enacted Legislative Decrees modifying new regime and tax incentives for agribusiness and other sectors. The Legislative Decrees are effective from 1 January 2021. Tax incentives provided by

See More

Peru issues Legislative Decrees on tax incentives for various sectors

January 02, 2022

On 30 December 2021, Peru’s President Pedro Castillo has enacted Legislative Decrees modifying new regime and tax incentives for agribusiness and other sectors. The Legislative Decrees are effective from 1 January 2021. Tax incentives provided by

See More

Peru: Government submits Tax Reform Bill to Congress

November 08, 2021

On 27 October 2021, the Government led by President Pedro Castillo has submitted a bill to Congress through which it requests extraordinary powers to legislate on tax matters. The main measures of the Bill are as follows: Increase of capital

See More

Peru sets CbC reports ‘secondary filing’ for US parent entities located in Peru

September 22, 2021

There is no automatic exchange of country-by-country (CbC) reports agreement between Peru and the United States (US). So the US parent entities located in Peru will be required secondary filing by mid-October 2021 for the fiscal year 2020. The

See More