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Peru Amends Payment Method Requirements for Tax Purposes

11 March 2022

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Approved Changes

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Peru

Peru has published Legislative Decree No. 1529, which amends Law No. 28194 of 2004 for the Fight against Evasion and for the Formalization of the Economy. In particular, Legislative Decree No. 1529 amends the payment method requirements. This includes a reduction in the payment threshold triggering the requirements to PEN 2,000 or USD 500. Where a payment exceeds this amount, even if split into partial payments, the payment(s) must be made using the required methods, including account deposits, fund transfers, debit/credit cards issued in Peru, or checks. If payment is not made using a required payment method, certain tax effects...