The legislative decree reduces the threshold at which taxpayers must route payments through the Peruvian banking system. It also allows taxpayers to make payments to nonresidents through foreign banking/financial entities for certain transactions.On 3 March 2022, Peru’s President enacted Legislative Decree 1529, amending Law 28194, which regulates the use of the Peruvian banking system for tax purposes.BackgroundOn 27 October 2021, Peru’s President asked Congress for the power to enact tax measures. On 27 December 2021, the Congress approved the President’s request to enact different tax measures, including measures to improve the use of the Peruvian banking system for tax purposes....