13.2 C
New York
Saturday, December 3, 2022

Latest Posts

Exemption from VAT on food: bill would affect national production, according to the SNI

- Advertisement -

The National Society of Industries (SNI) expressed through a statement its concern about the bill for the exoneration of the General Sales Tax (IGV) to certain products of the basic family basket, since, they assure that it will not have the desired effect, since it does not exempt the entire national production chain from VAT, on the contrary “it will seriously affect mypes and farmers”.

- Advertisement -

It is argued that raw materials, intermediate goods and services have not been considered, and since sales of final products are not taxed, there will be a tax payable to SUNAT “much higher than it should be”, and that difference must be financed at through the increase in the cost of the product “and therefore, there would be no reduction in the final price”. It is added that this will not happen with imports, since they will have the full deduction, “which implies an unacceptable discriminatory treatment against national production”says the statement.

Likewise, the SNI stressed that this mechanism will have a “more serious effect on the country’s micro and small agricultural and industrial producers”, since they would not have the liquidity or productivity to face this situation. Thus, They have already sent a letter to both the President of Congress and the head of the Parliament’s Economy Commission with their observations.

“To avoid affecting companies, a mechanism must be sought that does not tax the national manufacturing production chain and have an agile mechanism for the return of all VAT, such as the one that exporters have; in addition to targeting support among Peruvians who need it most. We hope that this problem will be solved in the course of today’s debate and in this way that companies can use the tax credit as it corresponds and not in a partial way”, specified the industrial union.

- Advertisement -

Source: Larepublica

- Advertisement -
spot_imgspot_imgspot_img

Latest Posts

Don't Miss

Stay in touch

To be updated with all the latest news, offers and special announcements.