Peru creates a tax-free zone in Northern Peru

August 23, 2021

On 14 August 2021, Peru has issued Law No. 31343 in the official gazette creating a tax-free zone in Northern Peru. The Law establishes the creation of the Organization and Administration Committee of Zofracajamarca, both located in the province of

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Peru: SUNAT clarifies interest deduction for thin capitalization rules

May 18, 2021

On 12 May 2021, the Peruvian Tax Administration (SUNAT) has issued Report No. 015-2021-SUNAT / 7T000 (the Guideline)regarding various queries related to the application of the limit for the deduction of interest expenses are answered, referred to

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Peru: SUNAT issues guidance on comparability analysis using multi-year data

May 07, 2021

On 29 April 2021, the Peruvian tax authorities (SUNAT) has issued Administrative Guidance No. 036-2021-SUNAT/7T0000 providing guidance in relation to the use of multi-year data in determining arm's length transfer pricing. The guideline provides

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Peru: SUNAT reduces late payment interest rate from April 2021

April 15, 2021

On 30 March 2021, the Peruvian tax authorities (SUNAT) has issued Resolution 000044-2021/SUNAT in the Official Gazette, through which SUNAT has decided to reduce the late payment interest rate from 1% to 0.9% per month on the amount of tax due with

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Peru announces the most appropriate method in the case of intra-group services

March 25, 2021

On 18 March 2021, the Peruvian tax authorities (SUNAT) has issued Report No. 135-2020-SUNAT/7T0000, through which SUNAT announced the use of the most appropriate method to determine the market value of services other than those classified as low

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Peru sets deadlines for individual and CIT returns for 2020

January 26, 2021

On 30 December 2020, the Peruvian tax authorities (SUNAT) has issued Resolution No. 000229 -2020/SUNAT in the official gazette regarding the deadlines for individual and corporate tax (CIT) returns for 2020. The Resolution includes an

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Peru issues Law on tax incentives for agribusiness

January 18, 2021

On 31 December 2020, Peru has issued Law No. 31110 in the official gazette modifying new regime and tax incentives for agribusiness. The new Law replaces previous Law No. 27360 and is effective from 1 January 2021. The Law aims to develop

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Peru increases the value of tax unit for 2021

December 22, 2020

On 15 December 2020, Peru issued Supreme Decree No. 133-2013-EF in the Official Gazette. The Decree increases the tax unit value (Unidad Impositiva Tributaria – UIT) from PEN 4,300 to PEN 4,400 for the year 2021. The UIT is used for different

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Peru: SUNAT publishes frequently asked question on CbC Report

December 21, 2020

On 16 December 2020, the Peruvian tax authorities (SUNAT) has released frequently asked questions (FAQ) in Spanish providing an elaborate description of country-by-country (CbC) reporting, including the format of CbC report, local filing

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Peru joins CRS Multilateral Competent Authority Agreement

December 17, 2020

On 10 December 2020, the Organization for Economic Co-operation and Development (OECD) published an update regarding signatories of the multilateral competent authority agreement (MCAA) on automatic exchange of financial account information and

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Peru: Tax Administration issues report on interest deduction limitations

December 05, 2020

On 10 November 2020, the Peruvian Tax Administration (SUNAT) has published Report No. 093-2020-SUNAT/7T0000 on its website, which clarifies the interest deduction limitations rules. Through the Report, SUNAT analyzes the application of the

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Peru: SUNAT extends CbC reports submissions deadline for FY 2017, 2018 and 2019

December 05, 2020

On 2 December 2020, the Peruvian tax authorities (SUNAT) has declared that the deadlines for the secondary local (Peruvian) filing of the country-by-country (CbC) reports for fiscal years (FY) 2017, 2018, and 2019 is 29 January 2021. The

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Peru: SUNAT will be able to access and review the international tax and financial information

November 05, 2020

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

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Peru announces agreement for the exchange of financial account information

October 27, 2020

On 21 October 2020, the Peruvian tax authorities has announced that they will start the CRS Multilateral Competent Authority Agreement (CRS MCAA), the agreement for implementing the automatic exchange of financial account information under the

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Peru issues resolution on international merger operation between two non-domiciled companies

October 13, 2020

On 6 October 2020, the Peruvian tax authorities (SUNAT) issued Resolution No. 061-2020-SUNAT / 7T0000 Official Website, through which the following has been concluded: The permanent establishment must maintain the same RUC number and notify

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Peru extends country-by-country report submissions deadline

October 12, 2020

On 25 September 2020, the Peruvian tax authority has published Resolution No. 000155-2020/SUNAT, through which the country-by-country (CbC) reports on multinational group entities are extended for the fiscal year 2019. SUNAT extend it until the

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Peru extends tax deferral applications submitting deadline due to COVID-19

October 04, 2020

On 28 September 2020, the Peruvian tax authorities (SUNAT) issued Supreme Decree No. 285-2020-EF in the Official Gazette. The Decree extends tax deferral applications submitting deadline to 31 December 2020 from 30 September 2020 due to the

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Peru: SUNAT modifies tax filing deadline again amid COVID-19 pandemic

June 12, 2020

On 29 May 2020, the Peruvian tax authorities (SUNAT) issued Resolution No. 099-2020/SUNAT in the Official Gazette modifying previous Resolution No. 055-2020/SUNAT and 065-2020/SUNAT in response to COVID-19 pandemic. The Resolution further extends

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