DTA 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 MoreMexico-Peru DTA
The 2011 double taxation agreement (DTA) concluded by Mexico and Peru entered into force on 19 February 2014 and will apply as from 1 January 2015. When in effect, the treaty will provide for a 10% withholding tax on dividends paid to a company
See MorePeru – Reduced rate of general sales tax
Peru’s tax administration issued a resolution concerning the reduced rate of general sales tax on 1 February 2014. The general sales tax is charged on the purchase price of certain goods and services. The resolution will be effective from 1 March
See MorePacific Alliance signs a free trade agreement
On February 10, at the eighth summit meeting of heads of state from the Pacific Alliance (PA), comprised of Chile, Colombia, Mexico, and Peru, a deal was signed that will remove 92% of tariffs on goods and services traded between the four countries.
See MorePeru approves tax treaties
The income tax treaties of Peru with Korea, Mexico, Portugal, and Switzerland recently obtained approval by the Peruvian Congress. The notices were published in the Official Gazette. Under the new treaties, relief for taxes withheld at source
See MorePeru – Resolution changes withholding rate for VAT
On 1 February 2014 Peru’s tax administration issued a resolution concerning changes to the withholding rate for value added tax (VAT). This rate applies to the supplier, who must withhold the tax in respect of a transaction that is liable for VAT.
See MorePeru: Changes to “frequent importers” regime
On 11 January 2014, the tax administration of Peru issued a resolution establishing changes to the “frequent importers” regime (Relación de Importadores Frecuentes). Resolución No. 00002-2014-SUNAT/300000 offers a list of the importers
See MorePeru –Amendments to the Income Tax Regulations
The department of Economy and Finance of Peru has made some modifications to the country’s existing Income Tax Regulations which are effective from 7 November 2013. According to the amendments a joint responsibility will be imposed on a Peruvian
See MoreExtension to the temporary exemption for commodities transactions in Peru
The tax authority of Peru published Resolution No. 355-2013/SUNAT in the Official Gazette on 12 December 2013. The Resolution would extend the temporary exemption for commodities transactions from the application of the withholding income tax regime
See MoreTrade Policy Review of Peru by WTO
The WTO has given a report on 15 November which showed that that Peru has decreased its trade tariffs from an average of 8 % to 3.2% in 2013. The rate is the lowest rate in Latin America. According to the report Peru has cut the maximum applied
See MorePeru- Amendments to the VAT withdrawal system
The tax authority of Peru published Resolution No. 317-2013-SUNAT on 24 October 2013. The resolution amends the Resolutions No. 183-2004-SUNAT, 266-2004-SUNAT and 073-2006-SUNAT which regulates the withdrawal system of VAT. The new resolution has
See MorePeru – Due dates for submitting transfer pricing affidavits and technical studies for 2012
The Peru’s tax authorities (SUNAT) issued Resolución de Superintendencia N° 301-2013/SUNAT which became effective from 6 October 2013. The resolution has scheduled dates in November 2013 for taxpayers to submit their transfer pricing affidavits
See MorePeru- Decree on VAT Collection System published
The Supreme Decree 243-2013-EF of Peru has been published which will enter into force on 30 October 2013. The Decree has established computational rules for the application of the VAT Collection System in relation to the importation of goods with
See MoreRelaxation of VAT penalties in Peru
The Peruvian tax authority published Resolution No. 277-2013/SUNAT which became in force from 8 September 2013. The resolution has relaxed the application of penalties in the VAT Collection
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