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.
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.
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
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
Juan Aguilar: email@example.com