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There are 7 million informal enterprises

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In the country there are around 7 million entrepreneurs who are doing business in the informality, according to the Association of Entrepreneurs of Peru (ASEP). For the tax attorney Miguel Carrillo, this is mainly due to the lack of knowledge of tax obligations.

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For example, Renato Gordillo, who launched his Renacer Chocolatier venture in 2020, says that after almost a year he decided to formalize it. “We lost quite a few clients, especially the corporate ones, because we did not give an invoice”, remember.

He adds that learning at the beginning was not easy, but now that he has more order, he can make better decisions.

“Perhaps the most complicated part has been the accounting issue. When I started I was only worried that they would ‘yapeen’ me or deposit me and that was it. But it is all a logistics and registration process. In the first few months I lost money because I didn’t know how the tax credit worked. However, all this has helped me to have clear accounts in my business and not have problems in the future”, says Renato.

Road to formalization

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The first thing that the entrepreneur must know are the tax regimes that exist.

“The first is the new RUS, for small businesses like wineries. Then there is the Special Regime (RER) that allows you to qualify, according to economic activity, if income does not exceed S / 525,000 per year. The MYPE Tax Regime (RMT) allows taking advantage of as long as one does not exceed 1,700 UIT in the year (S / 7 million 820,000); and finally there is the General Scheme, which has no limits”, explains the specialist.

For a new entrepreneur, Carrillo recommends starting in any of the last three because they allow the issuance of tickets and invoices.

“Formality is always a cost at the beginning, but it generates higher profits in the future”, points out.

Difficulties to formalize

“When one is already formal, the problem of staying, because there are many regulations that we do not know, so mistakes are made that end in fines,” explains Fernando Camell, president of ASEP, who points out that, for a person who receives income of S/ 1,500 a month from his business, a fine of 1 UIT makes him bankrupt.

“The problem is that the formalization laws are made to be fulfilled by large companies, which have a constant temporality. Most companies in Peru do not have it”, he pointed out.

The ASEP representative pointed out that they propose the “reverse formalization”, which is a simplification of the rules so that they can be followed by people who are not specialized in accounting, such as the majority of entrepreneurs and mypes.

He adds that the first step should be to allow businesses to sign up for free. Thus, the State can know which companies are operating and where.

The benefits of formalization

People normally seek to buy from the person who issues an invoice or ticket. “When a company does not issue these receipts, it generates mistrust about the product or service it offers,” says tax expert Miguel Carrillo.

One of the benefits that the Sunat is the ‘Fair IGV’, a mechanism that allows mypes with annual sales of up to 1,700 UIT to extend the IGV payment for up to three months.

Carrillo recalls that the rule allows companies to deduct all expenses such as marketing, advertising and hiring staff, among others.

The specialist recommends avoiding fines for minimal reasons, such as forgetting to file your statement within the deadline.

The word

Miguel Carrillo, tax attorney

“The State must inform more about what it is doing with the proceeds at the level of employment, health posts, education, and others, because the nature of the tax is that it benefits everyone.”

Source: Larepublica

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