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Peru's Government Close to Finalizing Tax Measures for 2017

08 December 2016

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Proposed Changes

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Peru

According to recent comments from Peru's Economy and Finance Minister Alfredo Thorne, the government is close to finalizing a number of tax measures for 2017. The measures are to be introduced through executive decree under a temporary 90-day power granted by the congress in October. Potential measures include: Increasing the corporate tax rate from 28% to 30%; Reducing the value added tax (IGV) rate from 18% to 17%; Reducing the dividends withholding tax rate from 6.8% to 4.1% (currently scheduled to increase to 8% in 2017); Introducing a voluntary disclosure scheme for undeclared income generated up to 31 December 2015...