Executive strengthens mechanisms to detect unjustified increase in assets

The Government of President Pedro Castillo published the Legislative Decree No. 1527which seeks to strengthen the mechanisms for detecting unjustified capital gains, by amending the Income Tax Law.

Onwards, donations may not be used to justify an increase in assets if they are not previously recorded in a public deed (in the case of the donation of real or personal property whose transfer requires said instrument, according to the regulations on the matter); and in a document of a certain date, in the case of the donation of personal property that does not require said deed.

To justify an increase in assets, donations or other liberalities must also bear a document that “reliably proves” the donation received, in the case of movable property without public deed and that have been received on the occasion of weddings or similar events, or whose value do not exceed 25% of the ITU.

At this point, the MEF clarifies that the liberality received must also be accredited by means of a document. In cases where a public deed or document of a certain date is required for its constitution or formalization, according to the regulations on the matter, the liberality may not be supported with a document that does not comply with said formality.

Third party deposits must be justified

The Legislative Decree No. 1527 specifies that deposits in accounts of entities of the national or foreign financial system that correspond to operations between third parties will not be considered to determine the increase in equity, provided that the origin or provenance of such deposits are duly supported and the information related to them is declared to Sunat.

“This certification before the collection entity must be given in the form, term and current conditions, among them, the minimum amount from which the declaration will be presented, which is established by means of a superintendence resolution,” the document states.

It should be noted that, according to the Income Tax Law, the increase in assets will be determined taking into account, among others, external signs of wealth, changes in assets, the acquisition and transfer of assets, investments, and deposits in entities of the national or foreign financial system.

Consumption and expenses incurred during the audited year are also taken into account, even when these are not reflected in your assets at the end of the year, according to the methods established by the regulations of the law.

In order to determine the rents or any income that justifies the patrimonial increases, the Sunat may require the tax debtor to support the destination of said rents or income. Said methods must also consider the deduction of the total income declared and other income and/or income received verified by Sunat.