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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Peru updates tax code on interest for refunds and penalties
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
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Peru extends deadline for individual and micro and small enterprises tax return
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,
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Peru shifts from LIBOR to SOFR for lower withholding tax on nonresident interest
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
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Peru extends income tax exemption for certain non-profit entities until 31 December 2026
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
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Peru extends tax incentives for R&D investments until 2025
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
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Peru extends tax incentives for real estate investment funds until 2026
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
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