Peru

Peru

Peru is the Worldbank`s poster child in terms of economic development due to its yearly average growth of 6,4% within the last 10 years. Thus, it reached the second best results of all LATAM countries and the Caribbean. This positive development can be attributed to the neoliberal course of the country as becomes visible with the free trade agreements with Peru, Colombia and the EU. However, the high level of corruption and shadow economy threatens to economic advance of Peru. On Transparency International`s Corruption Perception index Peru even slipped form place 88 in 2015 to place 100 in 2017. To what extent the newly implemented Anti-corruption Law of 2017 can improve the situation remains to be seen.

 

e-Invoicing

Since 2016, the e-Invoicing system Pago Electronicos (CPE) has been implemented in Peru and is being monitored y its tax authority SUNAT. The introduction of the system was carried out in four waves since 2014 and is focused in medium sized and big businesses, the so-called Principals Contribuyentes (PRICO)More...

OECD report: 6 taxation insights on Latin America and the Caribbean

The OECD recently published  a report on tax revenues for 26 countries in Latin America…

Transfer Pricing Regulations in LATAM under Corona

Many Latin American governments have changed their taxation policies, payment and reporting deadlines in respondence…

LATAM: Corona-induced Tax Measures II

Corona is hitting the world economy hard. In fact, the IMF made it official recently…

Peru: The most stable investment destination in Latin America

According to a report published by JP Morgan Chase in January, Peru 2020 is the…

Peruvian peasants protest against Chinese oil company and set on fire offices

“A building in a northern Peruvian town was set on fire on Friday in a…

International Approaches to taxing the Digital Economy

New technologies fuel the trend of digitization and change the economy by: Decoupling it from…

Peru: Local Report for Transfer Prices

The Local Report is an affidavit that must be presented to the Peruvian tax authority…

The Costs of doing Taxes in Latin America

In OECD countries, it takes a company 159 hours on average to do the taxes.…

Peru: CbC Report Exchange since “MCAA CbC”

At the end of 2018, Peru signed the Multilateral Competent Authority Agreement (MCAA CbC) which…

Peru: Changes for Comprobantes de Pago

On December 22nd, 2018, the Peruvian tax authority SUNAT published Resolution No. 295-2018 which outlines…