Peru has published Law No. 31650 of 28 December 2022, which provides for an extension of the incentives provided by Legislative Decree No. 1188 to promote investments in real estate investment funds. The incentives include a deferral of income tax and transfer tax on the contribution of real estate (immovable property) to a fund, as well as a 5% withholding tax rate on income from rental or other forms of assignment for the use of real estate. Previously scheduled to expire on 31 December 2022, the incentives are now extended to 31 December 2026.