Peru has published Supreme Decree No. 402-2021-EF, which amends the income tax regulations in relation to the new interest deduction restriction rules introduced by Legislative Decree No. 1424 of 2018. As previously reported, the decree amended the prior thin capitalization rules (3:1 debt-equity) so that the rules applied in relation to both related and unrelated party debt from 1 January 2019 to 31 December 2020. From 1 January 2021, the thin capitalization rules are replaced, as per the Legislative Decree, with a general restriction on the deduction of net interest expense exceeding 30% of EBITDA of the previous year. Supreme...