On 21 April 2020, Peru’s Executive Power enacted Supreme Decree 085-2020-EF, amending the Peruvian Income Tax Law regulations and establishing new rules for determining the market value of shares in indirect transfers of Peruvian shares.BackgroundPreviously, to determine the market value of the shares of the resident entity and the nonresident entity in indirect transfers of Peruvian shares, the entities had to determine the:Quotation value: In the case of shares listed on the stock exchange, the market value was the quotation value.Equity value: In the case of non-listed shares, the market value was calculated based on the last audited annual balance...