183:
discretionary faculties to exercise their auditing duties, which are not conducted on a routine cycle but rather on a variable basis. Larger businesses are usually audited every year, while medium-sized and small businesses may be audited on a biannual or lower frequency rate. However, all
Peruvian-resident legal entities must file tax returns and pay taxes both on a monthly and annual basis. The annual tax returns must be filed by the end of March or beginning of April, depending on the taxpayer number.
156:
As occurs with many indirect tax systems, to determine the tax payable by the company performing the above-mentioned transactions (output VAT), the VAT paid in the company's acquisitions is accepted as a tax credit (input VAT). Exporters can recover VAT paid in acquisitions for up to 18 per cent of
107:
They are available also for investments in manufacturing industries located in the jungles, in designated tax-free zones and in borderline areas of the country. Furthermore, companies involved in certain economic sectors may be subject to special or reduced income tax rates (i.e. companies involved
152:
The general rate of VAT is 18% (16% of VAT itself plus 2% of municipal promotion tax). VAT in Peru is generally imposed on the following transactions: sale of movable property, rendering and use of services, construction contracts, first sale of real property (except land) made by builders and the
86:
All resident companies are subject to this income tax on their worldwide taxable income. Resident companies are those incorporated in Peru. Branches and permanent establishments of foreign companies that are located in Peru and non-resident entities are taxed only on income from
Peruvian sources.
82:
The general income tax annual rate for resident entities is 29.5%. In addition to this, resident entities are obliged to make advance payments on a monthly basis by applying a coefficient over the accrued taxable income of the month. Advance payments are to be offset against the annual income tax
178:
The
Superintendencia Nacional de AdministraciĂłn Tributaria (SUNAT) (English version: National Superintendency of Tax Administration) is the government administrative body and the most important tax authority responsible for collecting of the national taxes. It means all taxes assigned as public
182:
In addition to this, each of the approximately 1 800 municipalities in Peru is considered as a separate tax authority with respect to municipal taxes (mainly taxes on the ownership and transfer of immovable property, real estate and payment of municipal public services). Tax authorities have
160:
Companies that have not commenced productive operations with a pre-production stage equal to or longer than two years may resort to a special system to obtain the advanced recovery of the VAT levied on certain acquisitions provided that they execute an investment agreement with the state.
122:
Foreigners residing or staying in Peru for more than 183 days within any given 12-month period, will be given the status of individuals domiciled in the country from
January 1 of the following fiscal year in which the duration of stay expires.
528:
118:
Peru also has an income tax for individuals. Peruvian citizens domiciled in Peru are subject to taxation on their worldwide income. Individuals not domiciled in Peru are only taxed in this country on their
Peruvian sourced income.
169:
Excise tax rates, and the manner on which the tax is applied, depend on the type of goods or services. The specific goods which are subject to excise tax include fuel, cigarettes, beer, liquor, and vehicles.
195:, Peru has signed and ratified treaties with the following countries: Brazil, Chile, Canada, Portugal, South Korea, Switzerland; and Mexico. All these treaties are largely based on the
518:
179:
resources of the national government (taxes on income, sales, assets and financial transactions, as well as customs duties), public pensions and health security system contributions.
144:
rate of 5%, is imposed on distributions of profits to nonresidents and individuals by resident companies and by branches, permanent establishments and agencies of foreign companies.
202:
Negotiations to conclude tax treaties with Italy, Japan, the
Netherlands, Qatar, Singapore, Thailand and the United Kingdom, and renegotiations with Spain, still continue.
253:
523:
56:
All these four types of taxes are imposed at the national level. There are also municipal taxes based on an individual's or household's residence as well as a municipal
213:
between Andean
Community member countries, as well as for preventing tax evasion. Decision No. 578 prioritizes the taxation at the source, using the exemption method.
495:
485:
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465:
445:
470:
280:
417:
658:
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Dividends distributed by companies incorporated or established in Peru, received by individuals, are subject to the following rates:
563:
231:
745:
995:
611:
990:
825:
410:
830:
730:
307:
1094:
576:
861:
856:
628:
593:
403:
715:
674:
648:
209:, along with Colombia, Ecuador and Bolivia. In this regard, Decision No. 578 is applicable for avoiding
894:
879:
1129:
866:
791:
720:
556:
27:($ 29 billion). There are four taxes that make up approximately 90 percent of the taxation revenues:
1068:
918:
679:
432:
975:
813:
735:
705:
334:
820:
643:
440:
1013:
970:
940:
796:
776:
601:
549:
460:
8:
1038:
884:
801:
623:
506:
490:
90:
Various significant tax incentives are available for investments in the following areas:
1048:
955:
786:
771:
725:
638:
450:
985:
965:
960:
945:
904:
808:
781:
693:
653:
455:
322:
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in agriculture, animal husbandry and similar activities are entitled to a 15% rate).
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1028:
980:
930:
759:
740:
278:
206:
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1005:
899:
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710:
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39:
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government (up to 76%). For 2016, the projected amount of taxation revenues was
1023:
950:
616:
349:
1123:
1103:
1063:
1053:
935:
395:
1043:
1018:
871:
281:"The Inward Investment and International Taxation Review: Peru (Edition 8)"
141:
57:
24:
1108:
606:
232:"Peruvian Tax Reform: Increasing Government Revenues and Social Equality"
69:
49:
32:
633:
279:
CĂ©sar Castro
Salinas & Rodrigo Flores Benavides (February 2018).
16:
541:
1033:
572:
196:
20:
370:
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19:represents the biggest source of revenues for the
1121:
557:
425:
411:
530:South Georgia and the South Sandwich Islands
97:Oil and gas licenses and services contracts,
308:"Peru's recent tax changes and regulations"
186:
133:6.8% on results generated in 2015 and 2016,
564:
550:
418:
404:
254:"2017 Worldwide Corporate Tax Guide: Peru"
136:5% on results generated from 2017 onwards.
229:
147:
130:4.1% on results as of December 31, 2014,
157:an export's free on board (FOB) value.
75:
1122:
111:
545:
399:
173:
350:"World Tax Summaries: Peru Overview"
301:
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72:may be divided into 2 large groups:
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13:
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14:
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100:Certain agricultural activities,
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341:
306:Oxford Business Group (2018).
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35:(both corporate and personal),
1:
216:
205:Peru is also a member of the
191:Currently, in order to avoid
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63:
60:and a municipal vehicle tax.
7:
996:Water supply and sanitation
230:E. Bahner, Kathryn (2017).
10:
1146:
991:Water resources management
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1004:
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431:
426:Taxation in South America
197:OECD Model Tax Convention
187:Double taxation treaties
649:Ecuadorian–Peruvian War
348:PwC (3 January 2018).
140:This, currently valid
831:Regions and provinces
148:Value added tax (VAT)
746:World Heritage Sites
77:Corporate income tax
629:War of Independence
113:Personal income tax
94:Mining enterprises,
895:Telecommunications
639:War of the Pacific
333:has generic name (
174:Tax administration
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966:List of Peruvians
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826:Political parties
792:Foreign relations
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654:Internal conflict
644:Colombia–Peru War
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511:other territories
153:import of goods.
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1130:Taxation in Peru
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924:
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659:Political crisis
612:Spanish conquest
602:Ancient cultures
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519:Falkland Islands
433:Sovereign states
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375:www.sunat.gob.pe
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207:Andean Community
103:Capital markets.
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726:Natural regions
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211:double taxation
193:double taxation
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45:the import tax,
40:value-added tax
25:S/.94.6 billion
12:
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885:Stock Exchange
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617:Neo-Inca State
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524:French Guiana
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1044:Machu Picchu
1014:Architecture
971:Prostitution
941:Demographics
889:
862:Central Bank
797:Human rights
777:Constitution
507:Dependencies
480:
379:. Retrieved
377:(in Spanish)
374:
365:
353:. Retrieved
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311:. Retrieved
284:. Retrieved
257:. Retrieved
247:
235:. Retrieved
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159:
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142:Dividend Tax
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125:
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83:obligation.
81:
76:
70:income taxes
67:
58:property tax
55:
15:
880:Electricity
857:Agriculture
814:enforcement
716:Earthquakes
675:Demographic
624:Viceroyalty
607:Inca Empire
331:|last=
252:EY (2018).
1039:Literature
956:Irrigation
874:(currency)
787:Government
772:Censorship
381:2018-04-23
217:References
165:Excise Tax
64:Income tax
50:excise tax
33:income tax
986:Squatting
961:Languages
946:Education
905:Transport
867:Companies
782:Elections
721:Mountains
694:Geography
634:Guano Era
496:Venezuela
441:Argentina
68:Peruvian
1124:Category
1104:Category
1059:Religion
981:Religion
931:Abortion
890:Taxation
821:Military
760:Politics
741:Wildlife
680:Economic
668:By topic
594:Timeline
577:articles
486:Suriname
476:Paraguay
461:Colombia
355:23 April
323:cite web
313:23 April
286:23 April
259:23 April
237:23 April
21:Peruvian
17:Taxation
1088:Outline
1069:Symbols
1029:Cuisine
1006:Culture
919:Society
900:Tourism
845:Economy
711:Climate
585:History
491:Uruguay
466:Ecuador
446:Bolivia
371:"SUNAT"
1109:Portal
1024:Cinema
951:Health
736:Rivers
706:Cities
575:
471:Guyana
451:Brazil
42:(VAT),
1095:Index
1064:Sport
1054:Music
1049:Media
1034:Llama
936:Crime
456:Chile
872:Sol
802:LGBT
573:Peru
481:Peru
357:2018
335:help
315:2018
288:2018
261:2018
239:2018
48:the
38:the
31:the
1019:Art
809:Law
509:and
1126::
373:.
327::
325:}}
321:{{
296:^
269:^
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241:.
52:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.