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Tax Amendments to Promote Economic Growth in Peru Submitted to Congress

18 August 2014

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Proposed Changes

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Peru

On 28 July 2014, a bill aimed at promoting economic growth was introduced to the Peruvian Congress. The bill proposes the following main amendments. The introduction of a special regime for building depreciation whereby qualifying taxpayers can depreciate buildings at an annual rate of 20% from tax year 2015 instead of the standard 5% Correct cases of double taxation in regards to VAT on services supplied in the country when the remuneration is included as part of the customs value of imported goods The introduction of an electronic process for the submission of tax receipts Make permanent certain temporary exemptions...