Law Decree 1,120, published in the Official Gazette of 18 July 2012 and in force as from 1 January 2013, introduced amendments to the Income Tax Law including anti-avoidance measures. A main amendment is the introduction of CFC rules. Under these rules profits derived by a Controlled Foreign Company (CFC) may be attributed to its Peruvian resident shareholders and, then, taxed in Peru, provided the following conditions are met: -   the Peruvian-resident shareholder owns in the aggregate more than 50% of the CFC; -   the CFC derives any type of passive income; and     - the CFC...