On 21 May 2015, Peru published Law 30327 in its Official Gazette. The law provides for a tax credit based on employee training costs for micro, small and medium-sized enterprise. The credit is equal to annual employee training costs with a cap of 3% of total payroll for the year subject to certain conditions including that the enterprise is subject to the general tax regime, has met its tax obligations and the training is not to obtain an academic degree. The Law applies from 22 May 2015.