• Service: Tax, International Tax
  • Type: Regulatory update
  • Date: 6/24/2014

Peru - Tax proposals to encourage, expedite investment 

June 24:  A bill presented to the legislature on 18 June 2014 concerns tax proposals that are intended to promote and revitalize investment in Peru.

The bill (Proyecto de Ley No. 3627/2013-PE) is being promoted by the executive branch for purposes of expediting private and public investment in Peru, as well as creating new procedures for consolidation of land used in investment projects and for road infrastructure projects.

Among the legislative proposals are measures that would:

  • Reduce the rate of interest for late payment of tax debts relating to tax years 1998 through 2005
  • Change the investment requirements for purposes of tax stability agreements (i.e., agreements between the tax administration and taxpayers that provide certainty as to the tax treatment of certain investments or transactions)
  • Suspend the running of interest for the period of time when administrative appeal procedures are pending before the tax court
  • Relax the requirements for injunctive relief in certain administrative proceedings
  • Change certain measures concerning the general sales tax
  • Amend the procedures relating to fees for municipal licenses and rights, and revise the rules for business licenses
  • Provide measures relating to environmental clean-up projects

The bill has been referred to a congressional committee (Comisión de Economía, Banca, Finanzas e Inteligencia Financiera) as part of the legislative process.

Read a June 2014 report (Spanish) [PDF 49 KB] prepared by the KPMG member firm in Peru: El Ejecutivo envía al Congreso proyecto de Ley que establece Medidas Tributarias, Simplificación de Procedimientos y Permisos para la Promoción y Dinamización de la Inversión en el País

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