This 2024 a better one is expected economic situation for the country and that goes hand in hand with tax changes. These outline a new financial landscape for companies and workers. The six key adjustments range from extensions of deadlines to substantial changes in tax regulations, which will be administered by Sunat (National Superintendency of Customs and Tax Administration).
Given this scenario, we detail each modification, offering a concise analysis so that you can understand, in a practical way, how these measures can influence your tax obligations.
What are the tax changes for 2024?
Extension of the deadline for declaration and payment of income tax (IR)
Law No. 31940 extends the period for the annual sworn declaration and payment of income tax (IR), giving individuals and mypes until June to comply with their obligations. Sunat published the calendar for filing the income tax return and organized it according to the last digit of the RUC.
Those ending in 0 have until May 27, while those ending in 9 have until June 10. In addition, June 11 is the deadline for good taxpayers, as well as for those who are not required to register in the Single Taxpayer Registry (RUC). If you want to know more about the schedule you can see it HERE.
Increase in interest returned to taxpayers
The Peruvian State will pay more interest to companies when refunds are made for excessive or improper tax payments and for withholdings or non-applied collections of VAT and updating of fines.
End of the use of the Libor rate in money loans
As of January 1, Legislative Decree No. 1545 marks the end of the use of the Libor rate and adopts the monthly average market lending rate (TAM).
Tax benefits for hiring young people and specific sectors
Through several laws enacted in 2023, privileges are given to areas such as textiles, clothing, agriculture and irrigation, agro-exports and agro-industrial. The benefits imply deductions in Income Tax, tax credits for reinvestment of profits, among others.
End of the exemption from income tax on capital gains of the Lima Stock Exchange
It is estimated that this exoneration will end in 2024, since Congress did not extend the measure, leaving it in force only until December 31 of the previous year.
Law of the young entrepreneur
Law No. 31828 seeks to promote the hiring of Peruvians between 18 and 29 years old. It is established that in the processes of contracting goods of public entities, companies formed by young people of this age have an additional score of 5% in the technical proposal. In addition, it states that the remuneration cannot exceed S/1,700 and that the minimum term of the employment relationship is one month.
Labor lawyer Fernando Cuadros told La República that these parameters will not generate any change, since they are mere temporary employment and “this is not the solution” to straighten out the labor market.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
