Global

Details

  • Service: Tax, Global Indirect Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 7/29/2014

Peru - Tax proposals to encourage investment 

July 29:  Legislation intended to promote and revitalize investment in Peru was enacted in July 2014.

Background

The legislature made some changes to the executive’s original proposal during the legislative process. Following the bill’s approval, the legislation was published in the official gazelle on 12 July 2014 as Law No. 30230.


In general, the measures are effective 13 July 2014, except for certain provisions that have specific effective dates.

Tax provisions

The new tax provisions include:


  • New tax stability rules for the mining industry as well as changes to the current rules (in general, tax stability rules allow a taxpayer to reach an advance agreement with the tax authority as to what will be the tax treatment for specific items)
  • Changes to the process for judicial “preventive” review
  • Changes to the sales tax withholding rules
  • Changes to the customs law
  • Changes to the municipal tax law

Read a July 2014 report (Spanish) (PDF 120KB) prepared by the KPMG member firm in Peru: Aprueban Ley que establece medidas tributaries, simplificación de procedimientos y permisos para la promoción y dinamización de la inversion en el país – Ley No. 30230




©2014 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.


The KPMG logo and name are trademarks of KPMG International.


KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


Direct comments, including requests for subscriptions, to us-kpmgwnt@kpmg.com.
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

 

Share this

Share this

Subscribe

Subscribe to receive the latest TaxNewsFlash email alerts (you must select the option for TaxNewsFlash)


Already a Subscriber? Login


Not a member? Subscribe now