Peru Tax Guide

Peru

Currency: Nuevo Sol

Foreign Exchange Control: None

Accounting Principles: IAS/IFRS. Financial statements prepared annually.

Business Entities: Principally, corporation, closed corporation, public corporation, limited liability company and branch of a foreign company.

Corporate Taxation

Residence: If incorporated in Peru.

Basis: Residents are taxed on worldwide income. Non-residents and branches of foreign entities are taxed on Peruvian-source income.

Rate: 30%

Foreign Tax: Foreign tax credited against Peruvian tax limited to the amount of Peruvian tax payable.

Other: Investors in mining, oil or gas may agree tax law stability agreements with the government for 10 -15 year periods.

Tax Year: Calendar year

Personal Taxation

Residence: Residents taxed on worldwide income, non-residents taxed on Peruvian-source income only (resident if in Peru for > 183 days in a 12 month period).

Rate: Progressive up to 30%

Capital Gains: 6.25% with some variations for transfers by non-residents

Other: Real property: Levied total value of property.

Social Security: Employers 9%

VAT: Standard rate 18%

Member Firm: Juan Aguilar & Asociados

Email:
Juan Aguilar: jaguilar@premierperu.com