The Executive requested the Congress powers to legislate on tax matters for a period of 120 calendar days. The package of measures that he proposed aims to increase collection by S / 12,000 million per year and to incorporate 2.5 million new taxpayers. These are the main points to consider.
1. Higher tax for the highest earners
It is proposed that those people who earn over S / 300,000 per year pay a higher rate for income tax, above 30%. Measure would only impact 0.5% of taxpayers. The tax will not be raised for those who earn less than S / 300,000 per year.
It will also seek to adjust the maximum deduction limit on 20% of the declared income, which is currently 24 UIT and which allows deducting up to S / 105,600 for annual income of S / 528,000 and more. In other words, the maximum deduction for high income would be less than S / 105,600.
2. Increase the progressivity of the IR for rents
Currently, the first-rate income tax (IR) levies a flat rate of 5% for each transaction, regardless of rental income. What the Government proposes is that the rate be progressive, similar to the scheme for work income. In other words, those with high rental income will be taxed more. Thus, an annual deduction of 7 UIT (S / 30,800) will be applied to rental income. In addition, those who only have rental income less than S / 2,566 per month will not pay IR.
3. Fight against tax evasion and avoidance
The government aims to strengthen Sunat so that tax non-compliance can be reduced by between 1 and 2 percentage points a year. For this, the official registration in the RUC will be established whenever it is detected that a natural person performs movements similar to that of a company.
In addition, a “compliance profile” will be created for each taxpayer, in order to grant benefits to those with good tax behavior. It will seek to combat “false invoices”. To obtain the legislative powers, the Executive will seek to combat “false invoices.” For this, the condition of “subject without operational capacity” will be created and attributed to those who issue proof of payment that lack the resources and economic and financial capacities, among others.
4. Streamline the resolution of tax disputes
To make the resolution of tax disputes faster and more efficient, the MEF proposed to improve the management of tax litigation. In other words, clarity of the petition will be required in the appeals, and rules to prevent the coexistence of procedures on the same matter, among others.
The responsibility of tax advisers will be established for those cases of advisers who are proven to participate in the preparation, implementation or facilitation of tax avoidance schemes.
When there are complex cases, criteria will be determined to determine when there is a complex controversy and how the deadlines should be adjusted so that they can resolve it properly.
5. IGV will be charged to digital platforms
Part of the tax reform also includes digital platforms. What the Government seeks to implement is a mechanism so that the IGV can be charged to platforms such as Netflix, Spotify, Disney Plus, among others.
To implement this measure, International experiences are studied, since countries such as Argentina, Uruguay, Chile, Colombia, Mexico already have a collection mechanism for these services. The Minister of Economy and Finance, Pedro Francke, He clarified that a new tax is not being created, since the current law already allows the VAT to be charged to these services, however, there is no mechanism to collect it.
6. There will be improvements in the mining tax regime
The main part of the tax reform is the improvement of the mining tax regime, which has a tax base based on operating profit. That is, when it has large profits, it makes a greater contribution to the treasury. However, the Executive will increase the rates of the special tax on mining for the highest tranches of operating margin. This is due to the fact that, thanks to the increase in the price of copper, several mining companies will have higher profits than expected. The rate to be set will seek not to affect the competitiveness of the mining sector.
7. Tax incentives for aquaculture and forestry
Among the proposals of the MEF there is also that of promoting economic sectors through tax benefits, as was done with the agro-export sector.
The Government proposes to include the aquaculture and forestry sectors in Law No. 31110, which established the new labor and incentive regime for the agricultural and irrigation, agro-export and agro-industrial sectors.
In this way, the aforementioned sectors would have an income tax regime with reduced rates until there is a growth in activities. They will have the benefit of accelerated depreciation, including effective terms.
8. Simplify tax policy for the mype sector
The Government proposes eliminating the Special Income Regime (RER), the Mype Tax Regime (RMT) and the Simplified Single Regime (RUS) will be modified to order and rationalize the tax treatment of mypes.
Among the proposed changes is increasing the incentives to request and issue payment vouchers, reducing financial and time costs for tax compliance. This would help promote labor formalization.
The use of technological tools for keeping books and accounting records will also be promoted.
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