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New mining tax: no date for delivery of IMF recommendations

The Minister of Economy and Finance, Pedro Francke, reported that the International Monetary Fund (IMF) has not yet set a date for the delivery of its first report with recommendations for a new mining tax in Peru.

In dialogue with RPP Noticias, the head of the MEF stressed that this reform proposes a better redistribution of wealth, based on a new formula to tax mining, without affecting the competitiveness of the sector or the economy of the popular and middle classes.

“The IMF has advised us on two aspects. One is the reform of rates, so that they do not affect the competitiveness of the sector. Allow an international comparison. But he has also presented us with a preliminary report on how these taxes affect different social sectors, because the idea is not that they affect the middle class or the popular classes, but rather that it helps a better redistribution. The results are favorable ”, said the minister.

In this sense, Francke Ballvé acknowledged that the Executive does not have an agreed date for the delivery of these recommendations, since each document must follow the internal process of the organization before being published.

“These organisms have presented us with results, yes, but they tell us that they are preliminary. That they have to go through approval instances. We must be respectful with the organizations that help us, we cannot set a date for them when it depends on people who present us with advice ”, he concluded.

As recalled, the MEF reported last September that the tax reform for the mining sector would receive technical assistance from the IMF’s Fiscal Affairs Department. This, as part of a strategy to reactivate the country’s economy in the midst of a context of high prices of minerals, such as copper, in the international market.

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