Peru – Draft law on tax incentives to promote investment in stock market
The parliament of Peru published Draft Law No. 4743/2015-PE on 26 August 2015. The Draft law proposes certain tax incentives designed for increasing investment in the stock market. The proposed tax incentives are as follows: -Providing exemption
See MorePeru: Notice on certificates of residence for claiming Double Tax Treaty benefits
On 3 July 2015 the Tax Authority of Peru issued Notice 094-2015 specifying certificates of residence status for claiming Double Tax Treaty benefits. According to the Peruvian law withholding will be required when an expense is accrued or when a
See MorePeru: New law on tax incentives for medium-sized, small and micro enterprises
In Peru, Law 30327 providing tax incentives for medium-sized, small and micro enterprises was published in the Official Gazette on 21 May 2015. According to the new law medium-sized, small and micro enterprises are now subject to tax under the
See MorePeru: Amendments to income tax regulations related to financial derivatives and tax basis on indirect transfers of Peruvian shares
In Peru changes have been made to the income tax regulations regarding financial derivatives and the tax basis on indirect transfers of Peruvian shares through Supreme Decree No. 088-2015-EF on 18 April 2015. The changes became effective as from 19
See MoreColombia: Foreign Ministry announces implementation of Free Trade Agreement (FTA) with the European Union (EU) and Peru
The Foreign Ministry of Colombia announced on November 6, 2014 a full implementation of free trade agreement (FTA) with the European Union (EU) and Peru. The FTA between the EU and Colombia has provisionally been applied since 1st August 2013. The
See MorePeru’s government plans to introduce subsidies and cutting taxes to face the economic slowdown
The Government of Peru has planned to introduce subsidies and cutting taxes to encourage investment and cushion export sectors from the worst economic slowdown in five years. The government declares earlier this year that it is considering to
See MorePeru-New resolution on reporting of stocks and shares
The Peruvian tax authority issued Resolution 200-2014-SUNAT/4B0000 which entered into effect on 28 June. The resolution amended the Resolution 169-2014-SUNAT/4B0000. According to the new resolution Form 1065 need not to be filed for the issuance,
See MorePeru-New Resolution on VAT Withholding rate
The Tax Administration of Peru approved Resolution No. 203-2014/SUNAT on 27 June 2013. According to the Resolution, the VAT withholding rate will be reduced from 12% to 10% for certain services. The reduced rate will apply to services as in sections
See MorePeru-Guidance on reporting of stocks and shares
The tax administration of Peru issued in June 2014 guidance-Resolución Superintendencia No. 169/2014/SUNAT giving approval for an electronic form for Peruvian taxpayers to provide information about the issuance, transfer, and cancelation of stocks
See MorePeru: New Bill to Promote Investment
The Peruvian Executive proposed to the Congress on 18 July 2014 ‘Bill 3627-2013-PE’ which would introduce a number of tax changes to promote private investment. The bill would create new procedures for consolidation of land used in investment
See MorePeru: Extension of VAT withdrawal regime on certain construction activities
The Peruvian tax office has confirmed that the VAT regime of Peru will be extended to cover activities like installation of electricity lines, urban construction works, and public building
See MorePeru: New tax stability contracts for large scale mining projects
The government of Peru has proposed a new tax stability contract for large scale mining projects. The tax stability contract would try to keep the taxation rates on investments of at least $500m unchanged for a period of 15 years. The proposal also
See MorePeru: New rules for communicating the issuance, transfer and cancelation of Peruvian shares
According to Resolution 169-2014-SUNAT/4B0000 of Peru the issuance, the direct and/or indirect disposal, also the cancelation of Peruvian shares will have to be communicated to the Peruvian Tax Authority by virtual Form 1065. The Resolution will be
See MoreDTA between Portugal and Peru enters into force
It is reported that on April 12, 2014, the double taxation agreement (DTA) concluded between Portugal and Peru entered into
See MorePeru: Published regulation for advance pricing agreement
The tax authority's Resolution 377-2013/SUNAT, published in the Official Gazette on 29 December 2013.Accordance with the Resolution 377/2013, intention to negotiate an APA should be expressed in writing to SUNAT which must reply within 15 days.
See MoreSwitzerland – Peru DTA
The double taxation agreement (DTA) between Switzerland and Peru which was originally signed on 12 September 2012 entered into force on March 10, 2014. The agreement raises the standard of tax information exchange between the two countries to the
See MorePeru signs DTA with South Korea
Peru completed its domestic ratification procedures on February 27, 2014, in respect of the double taxation agreement (DTA) with South Korea. The treaty was signed on 10 May 2012 and will enter into force when both countries have completed their
See MorePeru ratifies tax treaty with Portugal
The ratification of the tax treaty with Portugal by the Peruvian president was published in the Official Gazette on 6 March 2014. The tax treaty was signed on 19 November 2012 and approved on 26 December 2013 by the Peruvian Congress. Under Article
See More