The Executive Branch approved Legislative Decree 1521 to update and tighten the rules to which they must abide for the evaluation and approval of tax exemptions, incentives and benefits.
Thus, Rule VII of the Preliminary Title of the Tax Code was modified, considering the recommendations of several international organizations such as the OECD, UN and OAS, and added seven conditions.
Among them, it is established that no exemptions, incentives or tax benefits should be granted on selective consumption taxes or on goods or services that harm health or the environment.
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Only those subjects who issue electronic payment receipts for the provision of services may be beneficiaries, as long as they are required, in accordance with the regulations of the National Superintendence of Customs and Tax Administration (Sunat).
In addition, the provision of legal regulations that contain exemptions, incentives or tax benefits They will be based on a statement of reasons with the objective, scope of the proposal, effect and quantitative analysis of the estimated fiscal cost of the measure. The Ministry of Economy and Finance (MEF) pointed out that, although tax exemptions, incentives and benefits are instruments of economic policy, they imply lower tax collection, reducing the scarce resources that the country has to invest in the population, and must be used in the cases that are really required.
On the other hand, Legislative Decree 1522 was also approved, which expressly states that payments for bribery (bribes) in their different forms are not deductible as a cost or as an expense to determine income tax.
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