Revenues to the State would increase by S / 12,000 million annually with the tax reform proposed by the Government of Pedro Castillo. Of this figure, approximately S / 3,000 million would be the product of changes in the mining tax scheme and the modification of the first and second category Income Tax, according to Alex Contreras, Vice Minister of Economy.
“This is the large component that would imply a significant increase for structural income in the country, which compared to the rest of the region are the ones with the least collection. We collect less than half of an OECD country (Organization for Economic Cooperation and Development) ”, he pointed out in RPP.
In addition, he added that the modifications in the tax regime of the mining sector would allow collecting an approximate of S / 1,200 million. In this regard, Contreras specified that the rates for mining companies that generate higher profits would be increased.
“We are in a context of the commodity price boom and extremely high levels of operating profit are being generated. Only those who generate greater profitability are going to pay a little more, that is not a generalized modification, ”said the official.
The vice minister also indicated that the resources will be used to solve problems in health, education, connectivity and competitiveness in the agricultural sector.
“In this way, it will be possible to provide incentives for greater formality, order the tax regimes for smaller companies and optimize the mining tax system that does not affect competitiveness, but that the country can have additional income, which will be invested in priority sectors. We aspire that the reform can be approved in its entirety or most of it ”, he said.
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