• Service: Tax, Global Indirect Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 8/7/2014

Peru - Proposed tax measures include temporary net asset tax 

August 7: In Peru, the president on 28 July 2014 presented a bill to the legislature that contains tax measures and administrative procedures that would be intended to promote economic growth.

Proyecto de Ley No. 3690/2014-PE proposes tax measures that would affect or implement:

  • A temporary tax on net assets (Impuesto Temporal de los Activos Netos)
  • General sales tax / value added tax (Impuesto General a las Ventas)
  • A process for electronic submission of tax receipts (la emisión electronica de Comprobantes de Pago)

Under the value added tax (VAT) proposals, Peruvian VAT law would be modified to address and prevent double taxation regarding:

  • Imports of services (i.e., when services are rendered by a non-domiciled party and are consumed or used within Peru) when the price paid for such services is part of the customs value
  • A VAT exemption for the import of certain goods

Read an August 2014 report (Spanish) [PDF 64 KB] prepared by the KPMG member firm in Peru: El Ejecutivo envía al Congreso proyecto de Ley que establece Medidas para promover el crecimiento económico

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