Congressman Jorge Luis Flores Ancachi, from Acción Popular, proposes that the VAT paid by micro and small businesses (mypes) be reduced from 18% to 10% with the aim of giving them more liquidity to invest, in addition to promoting formalization and “invigorate the economy” in a context of recession.
In detail, bill 6826 suggests that the VAT for medium-sized companies be reduced to 12%, while for large companies the cut would be up to 15%.
For the second category, income generated by sales of real estate or securities, the tax would decrease to 2%. In none of these cases is it specified what its validity would be.
The suspension of the financial transactions tax (ITF) for all types of operations is also provided for until December 31, 2026. Meanwhile, the payment of deductions would be suspended until December 31, 2024.
What is the justification for the proposal?
The document provides an account of all the projections that exist regarding the results of the GDP of 2023, which mostly agree that the year will close in red, as well as other important indicators such as private investment that “according to with the Central Reserve Bank (BCRP) – it would fall 7.3%.
“This law does not generate or imply any cost for the national treasury. On the contrary, it generates the following benefits, which is why its objective is to promote the increase in investment by small and medium-sized companies to boost the economy in the national territory ; with the purpose of ensuring that micro, small and medium-sized companies can continue investing and increase their formalization to counteract the economic recession that afflicts our national economy with the reduction of taxes,” the document reads.
The initiative is already in the Economy Commission for evaluation. If approved, it would go to the Plenary Session, where it will be debated and voted on. It should be noted that Congress has already approved a decrease in VAT for companies in the restaurant and hotel sector, which currently pay 8%, which has had an impact on annual collection.
Source: Larepublica
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