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Peru enacts special depreciation rules due to COVID-19

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Peru

On 10 May 2020, Peru’s Executive Power enacted Legislative Decree 1488, establishing special depreciation rules. This measure responds to the COVID-19 crisis. Legislative Decree 1488 is effective 1 January 2021.

Background

Currently, maximum annual depreciation percentages are as follows:

  • Buildings and construction: 5%
  • Vehicles for ground transportation (except railways) and ovens in ge…

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