The Government regulated the norm that seeks to promote reading nationwide and provides tax relief to merchants.
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Through DS 003-2024-MC, the Government of Dina Boluarte regulated the Book Law (Law No. 31893) in order to stimulate the cultural sector and promote reading. Within its scope, it carries a handful of tax benefits.
In detail, with the Book Law, the import or sale of books and related publishing products is exempt from paying VAT, and there is also a refund of VAT in favor of publishing houses and of Income Tax on royalties for Copyright.
Thus, a minimum of S/1,287 is set to request the monthly refund of the IGV—equivalent to 0.25% of a UIT—. Said remuneration will apply to acquisitions of goods and services made since the book law came into effect.
And, regarding the exemption from IR on copyright royalties, translators are considered natural persons who carry out translation work from an original language to the language in which publication is planned.
According to the regulations, the exemption also applies to electronic and digital books and e-books.
It is key that the beneficiaries have proof of the legal deposit issued by the National Library of Peru. The annual publication of the benefits given and the list of citizens who will access them, as well as the amounts to be returned, will depend on Sunat.
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Source: Larepublica
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