The Peru tax authority (SUNAT) has updated its guidance on the general anti-abuse rules (GAAR) with the publication of the second version of the catalog of high tax risk schemes. The initial version of the catalog included five schemes that imply a potential breach of tax obligations for which the GAAR would apply, including schemes that would lead to an incorrect determination of tax or obtaining an undue tax advantage. The second version includes the original five schemes plus an additional eight schemes. These include: Schemes involving the concealment of income from the temporary transfer of extractive industry concessions, which...