On 6 May 2019, Peru published Supreme Decree No. 145-2019-EF in the Official Gazette concerning the application of the country's general anti-avoidance rule (GAAR). This includes that the GAAR may be applied in the following cases: Acts, situations, and economic relationships in which there is no correspondence between the benefits and the associated risks, or those that involve low or no profitability, do not adjust to the market value, or lack economic rationale; Acts, situations, or economic relationships that do not relate to ordinary operations to achieve the desired legal, economic, or financial effects; The use of non-business structures to...