Peru has published Law 31103 and Supreme Decree 432-2020-EF, which provide for the introduction of new tax measures to support the tourism industry in light of COVID-19. One of the main measures is a tax payment deferral/installment scheme. The scheme allows tourism service providers to defer the payment of outstanding tax debts, with payments made in 12 or 36 monthly installments, provided that the taxpayer's net income did not exceed 2,300 tax units (UIT) in 2019 and certain other conditions are met. The scheme is available in respect of taxes collected by the tax administration, including healthcare contributions and customs duties, and must be applied for by 30 June 2021.
The other main measure concerns the deduction of expenses incurred by individuals for tourism and artisan services during the 2021 and 2022 tax years. This includes that 50% of expenses incurred may be deducted in relation to fourth category income payments (independent professional services income) and 25% of expenses incurred may be deducted in relation to third category income payments (business income). 25% of expenses incurred may also be deducted in relation to hotel and restaurant services.
The measures are effective from 1 January 2021.
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