The Executive made official Law 31828, called Young Entrepreneur Lawwhich aims to establish a promoting regulatory framework, in order to generate sources of work for “young people who contribute successfully to the development of the country, within a social market economy”.
The companies under the scope of this law have benefits such as the process of incorporation and simplified registration of the company, for which purpose the Ministry of Production carries out the actions and signs the agreements that are necessary for its compliance.
The taxpayer subject to the general income tax regime or to the Mype Tax Regime that hires one or more new workers, for the purposes of determining the income tax for the years 2024 and 2025, may apply an additional deduction equivalent to 50% of the basic remuneration paid to the new worker, regardless of their working hours and their contractual modality.
The worker has, at the time of hiring, an age equal to or greater than 18 years and no greater than 29 years. The worker must not be registered in the electronic payroll of one or more companies in a period of twelve months prior to the start date of work.
The basic monthly remuneration of the new worker does not exceed S/1,700. In the case of workers whose remuneration is variable or imprecise, the requirement is considered fulfilled if the monthly average of remuneration received during the months of January to December of the years 2024 and 2025 does not exceed S/1,700.
The employer incorporates the new worker in the T-Registration of the electronic payroll within the terms established in the current legislation. The number of workers registered in the employer’s electronic payroll is greater than the “employment in the base period”, in accordance with the provisions of the regulation. The employment relationship begins on January 1, 2024.
Law of the young entrepreneur: contract time
It should be noted that the minimum term of validity of the employment contract is one month. The refund of the general sales tax (IGV) for export operations of goods and services, will be made in accordance with the provisions of current legislation.
In the processes of contracting goods, services or works of public sector entities, companies constituted by young people, whose age is equal to or greater than 18 years and not greater than 29, have an additional score bonus of 5% in the technical proposal.
Source: Larepublica
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