SUNAT has requested comments concerning the draft resolution. Comments are due on or before 8 March 2013, when the final resolution is scheduled to be officially published.
Study, affidavit due 1 June 2013
If no changes are made to the draft resolution following the comment period, the new rules would apply to formal transfer pricing requirements for fiscal year 2012. Thus, in practice, companies would not only need to prepare and preserve their transfer pricing technical studies for 2012, but also file them—together with their transfer pricing affidavits—by 1 June 2013.
In general, the proposed changes to the transfer pricing study and reporting requirements relate to amendments to the income tax law in June 2012 and related amendments to the income tax regulations in December 2012. These income tax changes were effective 1 January 2013.
The new measures apply transfer pricing standards to transactions with related parties and individuals who are residents in tax havens, subject to certain monetary thresholds.
The proposed resolution is viewed as being consistent with the 2012 legislative and regulatory changes to Peru’s transfer pricing rules, and would correct certain technical issues, such as one that would require taxpayers to conduct studies of transactions for which there were no tax effects or “immaterial” transactions (i.e., those under the minimum amount standard for the offshore transactions).
Read a March 2013 report (Spanish) [PDF 62 KB] prepared by the KPMG member firm in Peru: Precios de Transferencia: Modificaciones a las obligaciones correspondientes al ejercicio 2012
For more information, contact a tax professional with KPMG’s Global Transfer Pricing Services in Peru:
Sophia Castro Jurado
+51 (1) 611 3000
Juan Carlos Vidal
+51 (1) 611 3000 Ext. 3363
Contact a tax professional with KPMG's Global Transfer Pricing Services.