According to the Central Reserve Bank of Peru (BCRP), the collection of Income tax (IR) grew by 85.8% in March 2022 compared to the same month of 2021. The result is mainly due to the higher payments for regularization of the IR of legal entities corresponding to the taxable year 2021, which reached a maximum level for the month in the last 20 years.
Thus, in the third month of this year, payments on account of domiciled legal entities, which increased by 34.5% compared to March 2021, led to a 31.1% increase in the income tax of legal entities .
Meanwhile, the collection of Income tax of natural persons increased by 16.0% between March 2021 and March 2022, in all income categories, mainly the second category (dividends) and the fifth category (income from salaried work).
Likewise, the higher profits of fiscal year 2021 led to an increase of 19.8% in income from regularization of income tax.
While in the first quarter of 2022, the growth of income tax collection amounted to 46.7 percentage points. Tax collection for legal entities rose to 26.2 percent, natural persons did so at 28.8%, and regularization at 12.9%.